210 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 120 210 260 Units sold Materials requisitioned $744 $987 $2,704 Direct labor hours 231 Direct labor cost $1,584 $3,927 $4,493 Overhead is assigned on the basis of direct labor hours at a rate of $7.30 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. 132 468 Required: 1. Calculate the per-unit cost of Jobs 78 and 79. Round your answers to the nearest cent. Job 78 X per unit x per unit Job 79 $ 2. Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent. Food Check My Work 2 more Check My Work uses remaining, Previous Next > 2. Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent. Feedback Check My Work 1. When a job is finished, manufacturing cost is computed by totaling direct materials, direct labor, and overhead on each job. If there are multiple units, the grand total can be divided by the number of units to determine per-unit cost. 2. The balance in Work in Process can be computed by summing the costs of all incomplete jobs. 3. Prepare the journal entries reflecting the completion of Jobs 78 and 79 and the sale of Job 79. The selling price is 130 percent of cost. Round your answers to the nearest cent. Completion of Jobs 78 & 79 Sale of Job 79 (cost) Sale of Check My Work 2 more Check My Work uses remaining Previous Next > All work saved Ema Instructor 3. Prepare the journal entries reflecting the completion of Jobs 78 and 79 and the sale of Job 79. The selling price is 130 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) 1 Feedback Check My World 3. The costs of a completed job are transferred from the work-in-process inventory account to the finished goods inventory account. When a job is shipped to a customer, the cost of the finished job becomes the cost of the goods sold. There will be two Journal entries to show that the job was sold and billed to customer. Check My Work 2 more Check My Work uses remaining Previous Next