At the end of February, Gross Company had completed Jobs 60 and 61. Job 60 is for 25,000 units, and Job 61 is for 32,000 units. Using the data from Practice Exercises 19-1A, 19-2A, and 19-4A, determine (a) the balance on the job cost sheets for Jobs 60 and 61 at the end of February and (b) the cost per unit for Jobs 60 and 61 at the end of February.
Answer:
a. Job 60 Job 61
Direct materials……………………………………………………… $224,000 $296,000
Direct labor…………………………………………………………… 360,000 477,000
Factory overhead…………………………………………………… 82,500 99,000
Total costs………………………………………………………… $666,500 $872,000
b. Job 60
Job 61
$26.66
$27.25
= $666,500 ÷ 25,000 units
= $872,000 ÷ 32,000 units
