Perry Company is a manufacturing company that has worked on…
Perry Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter: Balance Job No. 500 $ 750 Job No. 501 1,455 Job No. 502 655 Job No. 503 875 Job No. 504 550 Jobs 500, 502,503 and 504 were completed. Jobs 500 and 502 were sold at a profit of $1,500 on each job. What is the ending balance of Work in Process for Perry Company at the end of the first quarter?
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