ew View Help Editing B I U QV AVA . . . EVEVEE E Find Coakwell Company worked on only two jobs during May. Information on the jobs is given below: Job A701 Job A702 Direct material $80,000 $92,000 Direct labour 287,000 219,000 Direct manufacturing labour-hours (DMLH) 19,000 13,300 At the beginning of the year, annual manufacturing overhead (MOH) was budgeted at $3,780,000 and Coakwell budgeted 35,000 DMLH per month. Job A701 was completed in May. Required: 1. Compute the total cost of Job A701. 8 marks Answer: 80000+287000+19000= 2. Calculate per unit cost for Job A701 assuming it has 5,000 units. 3 marks Maker this journal entry transferring Job A701 to Finished Goods. 3 marks 4. Determine the ending balance in the Work-in-Process account. 3 marks 5. Some business use job order costing and others process costing. What is the difference between these two costing systems? Briefly explain. 8 marks