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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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Section
BuyFindarrow_forward

Accounting

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

Job costs

At the end of August, Rothchild Company had completed Jobs 40 and 42. Job 40 is for 10,000 units, and Job 42 is for 11,000 units. Using the data from Practice Exercises 19-1B. 19-2B, and 19-4B, determine (a) the balance on the job cost sheets for Jobs 40 and 42 at the end of August and (b) the cost per unit for Jobs 40 and 42 at the end of August.

(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 40 and 42.

Explanation

The balance on job cost sheet is presented as follows:

  Job 40
($)
Job 42
($)
Direct materials 40,000 86,800
Direct labor 87,500 98,700
Factory ...

(b)

To determine
cost per unit for Jobs 40 and 42 at the end of August.

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