Job Costs At the end of April, Kaye Company had completed Jobs 50 and 51. Job 50

Question

Job Costs At the end of April, Kaye Company had completed Jobs 50 and 51. Job 50 is for 200 units, and Job 51 is for 500 units. The following data relate to these two jobs: On April 20, raw materials were requisitioned for production as follows: 700 units for Job 50 at $22 per unit and 1,200 units for Job 51 at $12 per unit. During April, Kaye Company accumulated 800 hours of direct labor costs on Job 50 and 400 hours on Job 51. The total direct labor was incurred at a rate of $24 per direct labor hour for Job 50 and $20 per direct labor hour for Job 51. The predetermined factory overhead rate is $15.00 per direct labor hour a. Determine the balance on the job cost sheets for Jobs 50 and 51 at the end of April. Job 50 ob 51 b. Determine the cost per unit for Jobs 50 and 51 at the end of April. Round al answers to the nearest whole cent. Job 50 ob 51

Explanation / Answer

Job No. 50 Job No. 51 Number of units 200 500 Direct material Job no. 50(700 units@22) 15400 Job no. 51(1200 units@12) 14400 Direct labour' Job no. 50(800 hrs @24) 19200 Job no. 51(400 hrs @ 20) 8000 Overheads Job no. 50(800 hrs @ 15) 12000 Job no. 51(400 hrs@15) 6000 Total COst 46600 28400 Cost per unit 233 56.8 Req 1: Balance in Jobs' Job No. 50 46600 Job No. 51 28400 Req 2: Cost per unit: Job nO.50 233 Job No. 51 56.8

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