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 240 200 310 Units sold 200 Materials requisitioned $1,728 $980 $3,472 Direct labor hours 264 220 527 Direct labor cost $2,904 $2,860 $4,743

Overhead is assigned on the basis of direct labor hours at a rate of $8.00 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.

$

Hide Feedback Incorrect Check My Work Feedback

1. When a job is finished, manufacturing cost is computed by totaling direct materials, direct labor, and overhead on each job. If there are multiple units, the grand total can be divided by the number of units to determine per-unit cost.

2. The balance in Work in Process can be computed by summing the costs of all incomplete jobs.

Hide

3. Prepare the journal entries reflecting the completion of Jobs 78 and 79 and the sale of Job 79. The selling price is 120 percent of cost. Round your answers to the nearest cent.

Completion of Jobs 78 & 79

Sale of Job 79 (cost)

Sale of Job 79 (sale)