Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN: 9781305970663
Author: Don R. Hansen, Maryanne M. Mowen
Publisher: Cengage Learning
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Chapter 5, Problem 18E
Feldspar Company uses an ABC system to apply
During September, Feldspar worked on three jobs. Data relating to these jobs follow:
During September, Jobs 13-280 and 13-282 were completed and transferred to Finished Goods Inventory. Job 13-280 was sold by the end of the month. Job 13-281 was the only unfinished job at the end of the month.
Required:
- 1. Calculate the per-unit cost of Jobs 13-280 and 13-282. (Round unit cost to nearest cent.)
- 2. Compute the ending balance in the work-in-process inventory account.
- 3. Prepare the
journal entries reflecting the completion of Jobs 13-280 and 13-282 and the sale of Job 13-280 on account. The selling price is 150 percent of cost.
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Chapter 5 Solutions
Cornerstones of Cost Management (Cornerstones Series)
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