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Hi, I have been working on these two questions for the last two hours and am at my wit's end. I have tried some 30

Hi, I have been working on these two questions for the last two hours and am at my wit's end. I have tried some 30 answers, all wrong. I hope you can help.

Job 3827 was started and completed in 2017. The job required 1,000 machine hours, 400 direct labor hours, and $80,000 in direct materials to complete. What was the total cost of this job? Using Crane's 80% markup, what sales price would be charged for this airplane? (Round answers to 0 decimal places, e.g. 5,275.)

At the end of 2016, Crane's accountants developed the following expectations for 2017 based on the marketing department's sales forecast:

Budgeted overhead cost $1,121,000

Estimated machine hours 54,000

Estimated direct labor hours 11,000

Estimated direct materials cost $1,510,000

Crane's inventory count, completed on December 31, 2016, revealed the following ending inventory balances:

Raw Materials Inventory $251,000

Work in Process Inventory $626,000

Finished Goods Inventory $2,240,000

Total Direct Labor: 163125

Additional information about Crane's operations in 2017 includes the following:

Raw materials purchases for the year amounted to $1,945,000. All materials were purchased on account.

The company used $1,870,000 in raw materials during the year. Of that amount, 85% was direct materials and 15% was indirect materials.

Crane applied overhead to Work in Process Inventory based on direct materials cost.

Airplanes costing $3,450,000 to manufacture were completed and transferred out of Work in Process Inventory.

Crane uses a markup of 80% to price its airplanes. Sales for the year were $6,570,000. All sales are made on account.

(Note: This transaction requires two journal entries.)

I'll keep trying. Thanks. Ken

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