During February, Vargas Company worked on three jobs. Data related to these thre

Question

During February, Vargas Company worked on three jobs. Data related to these three jobs follow:

Job 83 Job 84 Job 85

Units in each order 120 200 165

Units sold --- 200 ---

Materials requisitioned $744 $640 $600

Direct labor hours 360 400 200

Direct labor cost $1,980 $2,480 $1,240


Overhead is assigned on the basis of direct labor hours at a rate of $5.30 per direct labor hour. During February, Jobs 83 and 84 were completed and transferred to finished goods inventory. job 84 was sold by the end of the month. Job 85 was the only unfinished job at the end of the month.

Required:
1. Calculate the per-unit cost of Jobs 83 and 84.
2. Compute the ending balance in the work-in-process inventory account.

Explanation / Answer

job 83) 12.4 job84) 6.2

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