Question

Job Costs, Ending Work in Process During March, Aragon Company worked on three jobs. Data relating...

Job Costs, Ending Work in Process

During March, Aragon Company worked on three jobs. Data relating to these three jobs follow:

      Job 78       Job 79       Job 80
Units in each order 290   180         230  
Units sold —   180         —  
Materials requisitioned $1,740   $1,062         $2,507  
Direct labor hours 319   198         345  
Direct labor cost $3,509   $3,168         $3,312  

Overhead is assigned on the basis of direct labor hours at a rate of $8.90 per direct labor hour. During March, Jobs 78 and 79 were completed and transferred to Finished Goods Inventory. Job 79 was sold by the end of the month. Job 80 was the only unfinished job at the end of the month.

Required:

1. Calculate the per-unit cost of Jobs 78 and 79. Round your answers to the nearest cent.

Job 78 $ per unit
Job 79 $ per unit

2. Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent.

$

3. Prepare the journal entries reflecting the completion of Jobs 78 and 79 and the sale of Job 79. The selling price is 140 percent of cost. Round your answers to the nearest cent.

Completion of
Jobs 78 & 79
Sale of
Job 79 (cost)
Sale of
Job 79 (sale)

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Unit Cost, Ending Work in Process, Journal Entries During August, Pamell Inc. worked on two jobs....
Unit Cost, Ending Work in Process, Journal Entries During August, Pamell Inc. worked on two jobs. Data relating to these two jobs follow: Job 64 -Job 65 Units in each order 500----------- 1,000 Units sold 500 —(zero) Materials requisitioned--- $19,840 $15,760 Direct labour hours 900 1,260 Direct labour cost $17,100 $23,940 Overhead is assigned on the basis of direct labour hours at a rate of $37. During August, Job 64 was completed and transferred to Finished Goods. Job 65 was...
During February, Alexander Inc. worked on two jobs with the following data: Job 12 Job 13...
During February, Alexander Inc. worked on two jobs with the following data: Job 12 Job 13 Units in each order 100 units 200 units Units sold 100 units ---- Materials requisitioned $2,480 $1,970 Direct labor hours 820 hrs. 1,166 hrs. Direct labor cost $12,300 $17,490 Overhead is assigned on the basis of direct labor hours at a rate of $12. During February, Job 12 was completed and transferred to finished goods. Job 13 is the only unfinished job at the...
Job Costs At the end of August, Prichard Company had completed Jobs 40 and 42. Job...
Job Costs At the end of August, Prichard Company had completed Jobs 40 and 42. Job 40 is for 200 units, and Job 42 is for 2,000 units. The following data relate to these two jobs: On August 4, raw materials were requisitioned for production as follows: 300 units for Job 40 at $16 per unit and 1,000 units for Job 42 at $24 per unit. During August, Prichard Company accumulated 600 hours of direct labor costs on Job 40...
Job Costs At the end of August, Kaye Company had completed Jobs 40 and 42. Job...
Job Costs At the end of August, Kaye Company had completed Jobs 40 and 42. Job 40 is for 1,000 units, and Job 42 is for 200 units. The following data relate to these two jobs: On August 4, raw materials were requisitioned for production as follows: 200 units for Job 40 at $20 per unit and 1,400 units for Job 42 at $16 per unit. During August, Kaye Company accumulated 300 hours of direct labor costs on Job 40...
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data...
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q.
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data...
At the end of August, Prichard Company had completed Jobs 40 and 42. Job 40 is...
At the end of August, Prichard Company had completed Jobs 40 and 42. Job 40 is for 200 units, and Job 42 is for 500 units. The following data relate to these two jobs: On August 4, raw materials were requisitioned for production as follows: 400 units for Job 40 at $10 per unit and 1,500 units for Job 42 at $14 per unit. During August, Prichard Company accumulated 400 hours of direct labor costs on Job 40 and 1,200...
At the end of August, Darling Company had completed Jobs 40 and 42. Job 40 is...
At the end of August, Darling Company had completed Jobs 40 and 42. Job 40 is for 500 units, and Job 42 is for 200 units. The following data relate to these two jobs: On August 4, raw materials were requisitioned for production as follows: 300 units for Job 40 at $18 per unit and 900 units for Job 42 at $20 per unit. During August, Darling Company accumulated 600 hours of direct labor costs on Job 40 and 1,100...
At the end of April, Kaye Company had completed Jobs 50 and 51. Job 50 is...
At the end of April, Kaye Company had completed Jobs 50 and 51. Job 50 is for 200 units, and Job 51 is for 2,000 units. The following data relate to these two jobs: On April 20, raw materials were requisitioned for production as follows: 600 units for Job 50 at $24 per unit and 900 units for Job 51 at $18 per unit. During April, Kaye Company accumulated 200 hours of direct labor costs on Job 50 and 400...
At the end of April, Ingram Company had completed Jobs 50 and 51. Job 50 is...
At the end of April, Ingram Company had completed Jobs 50 and 51. Job 50 is for 1,000 units, and Job 51 is for 500 units. The following data relate to these two jobs: On April 20, raw materials were requisitioned for production as follows: 500 units for Job 50 at $18 per unit and 1,400 units for Job 51 at $18 per unit. During April, Ingram Company accumulated 400 hours of direct labor costs on Job 50 and 700...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT