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		250		170		350
Units sold				170
Materials requisitioned		$1,950		$850		$3,640
Direct labor hours		275		187		665
Direct labor cost		$3,300		$2,618		$6,251

Overhead is assigned on the basis of direct labor hours at a rate of $9.60 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
Job 79

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 130 percent of cost. Round your answers to the nearest cent.

Completion of Jobs 78 & 79	Finished Goods
	Work in Process		fill in the blank 8d1589febfdc068_4
Sale of Job 79 (cost)	Cash	fill in the blank 8d1589febfdc068_6
	Sales Revenue
Sale of Job 79 (sale)	Finished Goods
	Cost of Goods Sold