Gerken Fabrication Inc. uses the job order cost system of accounting. The following information was taken from
Question:
a. Compute the total production cost of each job.
b. Prepare the journal entries to charge the costs of materials, labor, and factory overhead to Work in Process.
c. Prepare the journal entry to transfer the cost of jobs completed to Finished Goods.
d. Compute the unit cost of each job.
e. Compute the selling price per unit for each job, assuming a mark-on percentage of 50%.
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Related Book For
Principles of Cost Accounting
ISBN: 978-1305087408
17th edition
Authors: Edward J. Vanderbeck, Maria Mitchell
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