3. Prepare the journal entries reflecting the completion of Jobs 86 and 87 and the sale of Job 87. The selling price is 130 percent of cost. Round your answers to the nearest cent. Completion of Finished Goods Jobs 86 & 87 Work in Process Sale of Job 87 (cost) Cost of Goods Sold Finished Goods O O Sale of Job 87 (sale) Accounts Receivable or Cash Sales Revenue Feedback Check My Work 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. Feedback Check My Work Partially correct Job Costs, Ending Work in Process During March, Estes Company worked on three jobs. Data relating to these three jobs follow: Job 86 Job 87 Job 88 130 170 350 Units in each order Units sold 170 $780 $935 $3,955 Materials requisitioned Direct labor hours 143 665 187 $2,805 Direct labor cost $2,145 $6,517 Overhead is assigned on the basis of direct labor hours at a rate of $9.10 per direct labor hour. During March, Jobs 86 and 87 were completed and transferred to Finished Goods Inventory. Job 87 was sold by the end of the month. Job 88 was the only unfinished job at the end of the month. Required: 1. Calculate the per-unit cost of Jobs 86 and 87. Round your answers to the nearest cent. Job 86 32.51 per unit Job 87 32.01 per unit 2. Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent. 16,523.5