Question

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 240 260 220 220 Units sold Materials requisitioned Direct labor hours $1,632 264 $1,034 242 $2,782 390 Direct labor cost $3,168 $3,630 $3,510 Overhead is assigned on the basis of direct labor hours at a rate of $7.70 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 28.5 X per unit Job 79 $ 29.7 X per unit 2. Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent. $ 35.8 х

The total cost for job 78 is 6832.8

for job 79 is 6527.4

for job 80 is 9295.

This is what I got for the three jobs.

Answer 1

Answer
1)
	Job 78	Job 79
Direct material	1632	1034
Direct labor	3168	3630
Overhead applied	$2032.80    [7.7*264]	$1863.40     [242*7.7]
Total cost	6832.8	6527.4
Unit cost [Total cost /Number of units]	6832.8 /240= $ 28.41	6527.40 /220= 29.67
2)
Cost of ending work in process is equal to cost of job 80 : 2782 Direct material +3510 direct labor +(390*7.7) overhead
= 2782 +3510 +3003 = $ 9,295

.3)
Date	Account title	Debit	credit
1	Finished goods inventory	$       13,360.20
	Work in process		$13,360.20
	[Being Job 78 and 79 completed and transferred out 6832.8+6527.4 ]
	cost of goods sold	$         6,527.40
	Finished goods inventory		$ 6,604.50
2	Cash /Accounts receivable (6527.4*130%)	$         8,485.62
	sales revenue		$ 8,485.62
	[To Record sales made]