ABC Company, a job order costing company worked on three jobs, Job 73, Job 74 and Job 75 in August. ABC Company, a job order costing company worked on three jobs, Job 73, Job 74 andJob 75 in August. Data are as follows:Job 73Job 74Job 75Balance, August 1$10,140 $Direct materials$8,940$14,76019,380Direct labor$14,400$12,600$27,600Machine hours4804201,200Overhead is applied to jobs based on Machine hours at the rate of:$ 24.00On August 1, the balance of Finished Goods was as follows:Job 70Job 72Balance, August 1$22,800 $36,000By August 31, Job 73 and Job 75 were completed. Job 70 and Job 73 were sold.During August, the following expenses were incurred:Variable marketing expenses10% of sales revenueFixed marketing expenses2,400Administrative expenses5,760The company prices its job at cost plus 30% (sales revenue).Required:Compute the balance in Work-in-Process as of August 31.Compute the balance in Finished Goods as of August 31.Compute the sales revenue for the month of August.Compute the operating income for the month of August.
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