I need help with question 4 in the accounting problem in the attached images.It says that the first job is completely finished and credited out of the WIP account to FG, but that the second job is not complete so it would remain in the WIP account. However, my professor gave a hint that the answer to question 4 was 448,920, but I do not see how he gets this number. Please help! 4-32 Job costing, unit cost, ending work in process. Rowan Company produces pipes forconcert-quality organs. Each job is unique. In April 2016, it completed all outstanding orders, andthen, in May 2016, it worked on only two jobs, M1 and M2:InsertHomePage LayoutFormulasDataRowan Company, May 2016Job M1Job M2$ 75,000275,000$ 56,000209,0002 Direct materials3 Direct manufacturing laborDirect manufacturing labor is paid at the rate of $25 per hour. Manufacturing overhead costs areallocated at a budgeted rate of $22 per direct manufacturing labor-hour. Only Job M1 wascompleted in May.1. Calculate the total cost for Job M1.Required2. 1,600 pipes were produced for Job M1. Calculate the cost per pipe.3. Prepare the iournal entry transferring Job M1 to finished aoods. 2. 1,600 pipes were produced for Job M1. Calculate the cost per pipe.3. Prepare the journal entry transferring Job M1 to finished goods.4. What is the ending balance in the Work-in-Process Control account?

Following are the calculation of ending balance of work in process control account:

Answered: 4-32 Job costing, unit cost, ending…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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I need help with question 4 in the accounting problem in the attached images.

It says that the first job is completely finished and credited out of the WIP account to FG, but that the second job is not complete so it would remain in the WIP account. However, my professor gave a hint that the answer to question 4 was 448,920, but I do not see how he gets this number. Please help!

4-32 Job costing, unit cost, ending work in process. Rowan Company produces pipes for
concert-quality organs. Each job is unique. In April 2016, it completed all outstanding orders, and
then, in May 2016, it worked on only two jobs, M1 and M2:
Insert
Home
Page Layout
Formulas
Data
Rowan Company, May 2016
Job M1
Job M2
$ 75,000
275,000
$ 56,000
209,000
2 Direct materials
3 Direct manufacturing labor
Direct manufacturing labor is paid at the rate of $25 per hour. Manufacturing overhead costs are
allocated at a budgeted rate of $22 per direct manufacturing labor-hour. Only Job M1 was
completed in May.
1. Calculate the total cost for Job M1.
Required
2. 1,600 pipes were produced for Job M1. Calculate the cost per pipe.
3. Prepare the iournal entry transferring Job M1 to finished aoods.

2. 1,600 pipes were produced for Job M1. Calculate the cost per pipe.
3. Prepare the journal entry transferring Job M1 to finished goods.
4. What is the ending balance in the Work-in-Process Control account?

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