Question

Job Costs At the end of April, Prichard Company had completed Jobs 50 and 51. Job 50 is for 1,000 units, and Job 51 is for 200 units The following data relate to these two jobs: Job at $20 per unit and 1,400 units for Job 51 On April 20, raw materials were requisitioned for production as follows: 500 units for at $22 per unit. During April, Prichard Company accumulated 700 hours of direct labor costs on Job 50 and 500 hours on Job 51. The total direct labor was incurred at a rate of $18 per direct labor hour for Job 50 and $12 per direct labor hour The predetermined factory overhead rate is $5.00 per direct labor hour. a. Determine the balance on the job cost sheets for Jobs 50 and 51 at the end of April. Job 50 Job 51 b. Determine the cost per unit for Jobs 50 and 51 at the end of April. Round all answers to the nearest whole cent. Job 50 Job 51 x a. The job cost shoot summarizes the direct materials labor and actory overhead a nd to the b. The total cost for each lob should be assigned to the unto completed for each lob.

Answer 1

a.

Job 50	$          26,100
Job 51	$          39,300

b.

Job 50	$             26.10
Job 51	$          196.50

Working:

	Job 50	Job 51
Direct materials	10000	30800
	(500 x $20)	(1400 x $22)
Direct labor	12600	6000
	(700 x $18)	(500 x $12)
Factory overhead	3500	2500
	(700 x $5)	(500 x $5)
Total job cost $	26100	39300
Number of units	1000	200
Cost per unit $	26.10	196.50