Job Costs, Ending Work in Process During March, Estes Company worked on three jobs. Data relating to these three jobs fo

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Job Costs, Ending Work in Process
During March, Estes Company worked on three jobs. Data relatingto these three jobs follow:
Overhead is assigned on the basis of direct labor hours at arate of $8.20 per direct labor hour. During March, Jobs 86 and 87were completed and transferred to Finished Goods Inventory. Job 87was sold by the end of the month. Job 88 was the only unfinishedjob at the end of the month.
Required:
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1. Calculate the per-unit cost of Jobs 86and 87. Round your answers to the nearestcent.
2. Compute the ending balance in thework-in-process inventory account. Round your answerto the nearest cent.
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1. When a job is finished, manufacturing cost is computed bytotaling direct materials, direct labor, and overhead on each job.If there are multiple units, the grand total can be divided by thenumber of units to determine per-unit cost.
2. The balance in Work in Process can be computed by summing thecosts of all incomplete jobs.
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3. Prepare the journal entries reflectingthe completion of Jobs 86 and 87 and the sale of Job 87. Theselling price is 140 percent of cost. Round youranswers to the nearest cent.
Accounts ReceivableCashCost of Goods SoldFinished GoodsSalesRevenueWork in ProcessFinished Goods
Accounts ReceivableCashCost of Goods SoldFinished GoodsSalesRevenueWork in ProcessWork in Process
Accounts ReceivableCashCost of Goods SoldFinished GoodsSalesRevenueWork in ProcessCost of Goods Sold
Accounts ReceivableCashCost of Goods SoldFinished GoodsSalesRevenueWork in ProcessFinished Goods
Accounts Receivable or CashCost of Goods SoldFinished GoodsSalesRevenueWork in ProcessAccounts Receivable or Cash
Accounts Receivable or CashCost of Goods SoldFinished GoodsSalesRevenueWork in ProcessSales Revenue