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 $150180240$

Units sold $180$

Materials requisitioned $$960$ $$918$ $$2,808$

Direct labor hours $165198456$

Direct labor cost $$2,310$ $$3,366$ $$3,648$

Overhead is assigned on the basis of direct labor hours at a rate of $$7\mathrm{.}80$ 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:

Question Content Area

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

Job $78$ $fill in the blank $97$d$3$b$8$fac$077$fdf$\_1$

per unit

Job $79$ $fill in the blank $97$d$3$b$8$fac$077$fdf$\_2$

per unit

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

$fill in the blank $97$d$3$b$8$fac$077$fdf$\_3$

Feedback Area

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.

Question Content Area

$3.$ Prepare the journal entries reflecting the completion of Jobs $78$ and $79$ and the sale of Job $79.$ The selling price is $130$ 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