Job Costs, Ending Work in Process During March, Estes Company worked on three jobs. Data relating to these three jobs follow: Job 86 Job 87 150 240 240 $1,368 264 $3,432 Units in each order Units sold Materials requisitioned Direct labor hours Direct labor cost $1,140 165 $1,815 Overhead is assigned on the basis of direct labor hours at a rate of $8.50 per direct labor hour. During March, Jobs 86 and 87 were completed and transferred to Fir Goods Inventory. Job 87 was sold by the end of the month. Job 88 was the only unfinished job at the end of the month. Required: Job 86 1. Calculate the per-unit cost of Jobs 86 and 87. Round your answers to the nearest cent. Job 87 $ $ $ Job 88 210 per unit per unit $2,499 315 $2,835 2. Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent.

Job Costs, Ending Work in Process During March, Estes Company worked on three jobs. Data relating to these three jobs follow: Job 86 Job 87 150 240 240 $1,368 264 $3,432 Units in each order Units sold Materials requisitioned Direct labor hours Direct labor cost $1,140 165 $1,815 Overhead is assigned on the basis of direct labor hours at a rate of $8.50 per direct labor hour. During March, Jobs 86 and 87 were completed and transferred to Fir Goods Inventory. Job 87 was sold by the end of the month. Job 88 was the only unfinished job at the end of the month. Required: Job 86 1. Calculate the per-unit cost of Jobs 86 and 87. Round your answers to the nearest cent. Job 87 $ $ $ Job 88 210 per unit per unit $2,499 315 $2,835 2. Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent.

Name: **Job Costs, Ending Work in Process**During March, Estes Company work
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Description: **Job Costs, Ending Work in Process**During March, Estes Company worked on three jobs. Data relating to these three jobs follow:| | **Job 86** | **Job 87** | **Job 88** ||----------------|-------------|------------|------------|| Uni

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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