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Cambridge Manufacturing Inc._job order cost system




Question;Cambridge Manufacturing Inc. uses the job order cost system ofaccounting. The following information was taken from the company?sbooks after all posting had been completed at the end ofMay:Jobs Completed Direct Materials Cost Direct Labor Cost Factory Overhead Unit Completed1040 $3,600 $4,000 $1,600 4001065 2,380 2,500 1,000 2401120 1,800 1,700 680 200a. Prepare the journal entries to charge the costs of materials,labor, and factory overhead to Work in Process.b. Compute the total production cost of each job.c. Prepare the journal entry to transfer the cost of jobs completedto Finished Goods.d. Compute the unit cost of each job.e. Compute the selling price per unit for each job, assuming amark-on percentage of 40%.


Paper#37221 | Written in 18-Jul-2015

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