During August, Pamell 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 $12. 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 160 percent ofcost.

Transcribed Image Text:

Job 64 Job 65 Units in each order Units sold Materials requisitioned Direct labor hours Direct labor cost 100 $1,240 410 $6,150 $985 583 $8,745