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

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