5-4 Cost Accounting

Below is the Journal needed to journalize these entries.

Here are the list of accounts needed to journalize.

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods

Materials

Overhead Control

Work In Process

Exercise 5.18 Activity-Based Costing, Unit Cost, Ending Work-in-Process inventory, Joumal Entries Feldspar Company uses an ABC system to apply overhead. There are three activity rates: Setting up S20 per setup Machining S5.10 per machine hour Other overhead 80% of direct labor cost During September, Feldspar worked on three jobs. Data relating to these jobs follow: Job 13-282 Job 13-28 Job 13-280 Units in each order 2000 100 Units sold Materials requisitioned S4,730 S3,800 $5,600 $4,600 Direct labor cost $2,000 800 Machine hours 100 40 25 Number of setups During September, Jobs 13-280 and 13-282 were completed and transferred to Finished Goods Inventory. Job 13-280 was sold by the end of the month. Job 281 was the only unfinished job at the end of the month. Required: 1. Calculate the per-unit cost of Jobs 13-280 and 13-282. Round unit cost to nearest cent. Job 13.280 per unit Job 13.282 per unit 2. Compute the ending balance in the work-in-process inventory account