Job Costs, Ending Work in Process

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		280
Units sold				210
Materials requisitioned		$816		$1,092		$2,800
Direct labor hours		132		231		476
Direct labor cost		$1,980		$3,696		$3,903

Overhead is assigned on the basis of direct labor hours at a rate of $9.20 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.

Required:

1. Calculate the per-unit cost of Jobs 78 and 79. Round your answers to the nearest cent.

Job 78	$ per unit
Job 79	$ per unit

2. Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent.

$

3. Prepare the journal entries reflecting the completion of Jobs 78 and 79 and the sale of Job 79. The selling price is 140 percent of cost. Round your answers to the nearest cent.

Completion of Jobs 78 & 79	Finished Goods
	Work in Process
Sale of Job 79 (cost)	Cost of Goods Sold
	Finished Goods
Sale of Job 79 (sale)	Accounts Receivable or Cash
	Sales Revenue