Question

Recording jobs completed The following account appears in the ledger after only part of the postings have been completed fora. Determine the cost of jobs completed. b. Determine the cost of the unfinished jobs at October 31.

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Answer #1

a.

Cost of completed Jobs = Cost of job 1004 + Cost of job 1030 + Cost of job 1037 + Cost of job 1041

= 45,970 + 28,100 + 53,640 + 89,390

= $217,100

b.

Cost of unfinished Jobs at Oct 31 = Work in process, Oct 1 + Direct material + Direct labor + Factory overhead - Cost of completed job

= 12,520 + 85,140 + 101,410 + 56,340 - 217,100

= $38,310

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