Question: 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 |
1) 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
2) Compute total production cost of each job
3) Compute the unit cost of each job
4) Compute the selling price per unti for each job asuming a ark on percentage of 40%