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 200 180 220

Units sold 180

Materials requisitioned $1,560 $990 $2,400

Direct labor hours 220 200 400

Direct labor cost $3,000 $3,000 $3,300

Overhead is assigned on the basis of direct labor hours at a rate of $8.40 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.

$_________

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.

Completion of

Jobs 78 $ _____

Jobs 79 $_____

Sale of

Job 79 (cost)

________ ________

__________

Sale of

Job 79 (sale)

________ ________

__________