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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

Job costs

At the end of May, Bergan Company had completed Jobs 200 and 305. Job 200 is for 2,390 units, and Jot) 305 is for 2,053 units. Using the data from Practice Exercises 19-1 A, 19-2A. and 19-4A, determine (a) the balance on the job cost sheets for Jobs 200 and 305 at the end of May and (b) the cost per unit for Jobs 200 and 305 at the end of May.

(a)

To determine

Job costs

A job costs consists of all actual costs that are incurred for a particular job. All the products costs like direct material, direct labor, factory overhead) are totaled. The formula to calculate the cost per unit for each job is as follows:

Cost per unit of job =Total product costNumber of units produced

To determine: the balance on job cost sheets for jobs 200 and 305.

Explanation

The balance on job cost sheet is presented as follows:

  Job 200
($)
Job 305
($)
Direct materials 60,000 7,400
Direct labor 70,000 72,000
Factory...

(b)

To determine
cost per unit for Jobs 200 and 305 at the end of May.

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