Activity-Based Costing, Unit Cost Ending Work-in-Process Inventory, Journal Entries Feldspar Company uses an ABC system to apply overhead. There are three activity rates: Setting up $25 per setup Machining $5.20 per machine hour Other overhead 75% of direct labor cost During September, Feldspar worked on three jobs. Data relating to these jobs follow: Job 13-280 Job 13-281 Job 13-282 Units in each order 200 510 100 Units sold 200 100 Materials requisitioned $4,720 $3,700 $5,600 Direct labor cost $2,000 $4,500 $800 Machine hours 80 100 40 Number of setups 20 15 25 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 13-281 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. A Job 13-280 per unit Job 13-282 SI per unit 2. Compute the ending balance in the work-in-process inventory account. 2. Compute the ending balance in the work-in-process inventory account. 3. Prepare the journal entries reflecting (a.) the completion of Jobs 13-280 and 13-282 and (6.) the sale of Job 18-280 on account. Make the entry to record the cost of Job 13 280 first, followed by the entry to record the revenue from its sale. The selling price is 150 percent of cost. a. b. (1) b (2) 4. Suppose Feldspar has secured contracts for two new jobs in October that have simpler designs and will require fewer setups than average. How can the activity-based rates help the company anticipate costs in October and revenue and income when the new jobs are complete? Identify the data analytic types (descriptive, diagnostic, predictive, or prescriptive) that will help Feldspar answer these questions. (See Exhibit 2.5 and Exhibit 2.6 for a review of data analytic types. Note: More than on analytic type might apply.) analysis will help Feldspar determine the costs of the jobs by applying the anticipated setups times the setup rate. analysis will help Feldspar determine why the costs are lower than average and the revenue will also be lower than average