1. The Paradise co. has two manufacturing departments, molding and assembly; The predetermined overhead rates for molding and assembly are $ 20 per direct labour hour and $ 10 per direct labour hour respectively. The companys direct labour wage rate is $ 50 per hour. The following information pertains to Job 1.

Molding

Direct Materials $700

Direct Labour $500

Assembly

Direct materials $ 400

Direct Labour $250

What are the total manufacturing costs assigned for Job 1?

2. Using the same information as 6 above, if job 1 consists of 5 units, what is the unit product cost for this job?

3. Island Vamp co. Uses a job order costing system. The following transactions occurred during May. Jobs costing $ 20,000 according to their job cost sheets were completed during May and transferred to finished goods.

Prepare a journal entry for the transaction.

4. Jobs that had cost $ 10,000 to complete according to Island Vamps job cost sheets were shipped to customers during the month. These jobs were sold on account at 20% above costs.

Prepare the journal entry(s) for this transaction.