Harris Company assigns overhead cost to jobs on the basis of 120% of direct labor cost. The job cost sheet for Job 205 includes $18,500 in direct materials cost and $15,200 in direct labor cost. A total of 2,300 units were produced in Job 205. Required: a. What is the total manufacturing cost assigned to Job 205? b. What is the unit product cost for Job 205?

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A company purchased land for $92,000 cash. The real estate brokers' commission was $7,500 and $8,000 was spent for demolishing an old building on the land before construction of a new building could start. Proceeds from the salvage of the demolished building were $1,500. Under the cost principle, what would the cost of the land be recorded as?

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