Feldspar Company uses an ABC system to apply overhead. There are three activity rates: During September, Feldspar
Question:
Feldspar Company uses an ABC system to apply overhead. There are three activity rates:
During September, Feldspar worked on three jobs. Data relating to these jobs follow:
During September, Jobs 10-280 and 10-282 were completed and transferred to Finished Goods Inventory. Job 10-280 was sold by the end of the month. poe 10-281 was the only unfinished job at the end of the month.
Required:
1. Calculate the per-unit cost of Jobs 10-280 and 10-282. (Round unit cost to nearest cent.)
2. Compute the ending balance in the work-in-process inventory account.
3. Prepare the journal entries reflecting the completion of Jobs 10-280 and 10-282 and the sale of Job 10-280 on account. The selling price is 150 percent of cost.LO1
Step by Step Answer:
Introduction To Cost Accounting
ISBN: 9780538749633
1st International Edition
Authors: Don R. Hansen, Maryanne Mowen, Liming Guan, Mowen/Hansen