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Job costing

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The Shawshank manufacturing co uses a job order cost system of accounting. The following info
was take from the books of the company after all posting had been completed at the end of January.

jobs completed direct materials cost direct labor cost factory overhead units completed
101 1800 2000 1000 200
102 1235 1250 890 150
104 900 850 350 100

a) Prepare journal entries to allocate cost of materials, labor and factory overhead to each job and transfer the cost of jobs completed to finished goods
b) Compute total production cost of each job
c) Computer the unit cost of each job
d) Computer the selling price per until for each job assuming a ark on percentage of 40%

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The solution explains how to calculate the cost of the jobs.

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