Menu
support@graduatecourseshelp.com
+1(805) 568 7317

prepare the journal entries reflecting the completion of jobs 62 and 63 and the sale 649338

JOB COSTS, ENDING WORK IN PROCESS During March, Molson Company worked on three jobs. Data relating to these three jobs follow:

Job 62

Job 63

Job 64

Units in each order

110

200

165

Units sold

200

Materials requisitioned

$560

$740

$1,600

Direct labor hours

260

300

500

Direct labor cost

$3,120

$3,600

$6,000

Overhead is assigned on the basis of direct labor hours at a rate of $7 per direct labor hour. During March, Jobs 62 and 63 were completed and transferred to finished goods inventory. Job 63 was sold by the end of the month. Job 64 was the only unfinished job at the end of the month.

Required:

1. Calculate the per unit cost of Jobs 62 and 63.

2. Compute the ending balance in the work in process inventory account.

3. Prepare the journal entries reflecting the completion of Jobs 62 and 63 and the sale of Job 63. The selling price is 140 percent of cost.

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now