During August, Leming Inc. worked on two jobs. Data relating to these two jobs follow:

Overhead is assigned on the basis of direct labor hours at a rate of $11. During August, Job 64 was completed and transferred to Finished Goods. Job 65 was the only unfinished job at the end of the month.

Required:
1. Calculate the per-unit cost of Job 64.
2. Compute the ending balance in the work-in-process account.
3. Prepare the journal entries reflecting the completion and sale on account of Job 64. The selling price is 175 percent of cost.

Transcribed Image Text:

Job 64 ob 65 Units in each order Units sold Materials requisitioned $3, Direct labor hours Direct labor cost 50 50 3,560 410 2 $785 583 $6,720 $9,328