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The Donaldson Company and WIP Inventory Balance

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The Donaldson Company uses a job-order costing system. The following data were recorded for July:

July 1 WIP added in July added in July
direct materials labor

475 1500 500 300

476 1000 700 900

477 900 10000 1500

478 700 1200 2000

Overhead is applied to jobs at the rate of 80% of direct materials cost. Jobs 475, 477, and 478 were completed during July and transferred to finished goods. Jobs 475 and 478 have been delivered to the customer. Find Donaldson's Work in Process inventory balance on July 31.

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WIP inventory has only Job 476, as the other two jobs have been ...

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