Question

In: Accounting

At the end of April, Cavy Company had completed Job 766 and 765. According to the individual job cost sheets the information is as follows:

At the end of April, Cavy Company had completed Job 766 and 765. According to the individual job cost sheets the information is as follows:

Job

Direct Materials

Direct Labor

Machine Hours

    

Job 765

$5,670

$3,500

27

Job 766

$8,900

$4,775

44

    

Job 765 produced 152 units, and Job 766 consisted of 250 units.

Assuming that the predetermined overhead rate is applied by using machine hours at a rate of $200 per hour, determine the (a) balance on the job cost sheets for each job, and (b) the cost per unit at the end of April.

Solutions

Expert Solution

a) Balance of Job cost sheet

Job 765 Job 766
Direct material 5670 8900
Direct labor 3500 4775
Overhead 27*200 = 5400 44*200 = 8800
Total Job cost 14570 22475

b) Cost per unit

Job 765 = 14570/152 = 95.86

Job 766 = 22475/250 = 89.90

ekkarill92 answered 2 years ago
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