During October, Tyson Company 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 $3.75. During October, Job 68 was completed and transferred to finished goods. Job 69 was the only unfinished job at the end of the month.
Required:
1. Calculate the per-unit cost of Job 68.
2. Compute the ending balance in the work in process account.
3. Prepare the journal entries reflecting the completion and sale ofJob 68. The selling price is 140 percent of cost.

Transcribed Image Text:

Job 68 Job 69 Units in each order 120 200 Units sold 120 Materials requisitioned $744 $640 Direct labor hours 360 400 Direct labor cost $1,980 $2,480