Job Costs At the end of April, Prichard Company had completed Jobs 50 and 51. Job 50 is for 1,000 units, and Job 51 is for 500 units. The following data relate to these two jobs: On April 20, raw materials were requisitioned for production as follows: 700 units for Job 50 at $18 per unit and 1,400 units for Job 51 at $18 per unit. During April, Prichard Company accumulated 300 hours of direct labor costs on Job 50 and 1,100 hours on Job 51. The total direct labor was incurred at a rate of $20 per direct labor hour for Job 50 and $12 per direct labor hour for Job 51. The predetermined factory overhead rate is $6.00 per direct labor hour. a. Determine the balance on the job cost sheets for Jobs 50 and 51 at the end of April. Job 50 $ fill in the blank 1 Job 51 $ fill in the blank 2 b. Determine the cost per unit for Jobs 50 and 51 at the end of April. Round all answers to the nearest whole cent. Job 50 $ fill in the blank 3 Job 51 $ fill in the blank 4

Prichard Company

At the end of April:

                                                              Job 50          Job 51

The balance on the job cost sheets  $20,400      $45,000

The cost per unit                                  $20.40        $90

Explanation:

a) Data and Calculations:

                                             Job 50          Job 51

Units produced                      1,000              500

Raw materials                          700            1,400

Cost of raw materials per unit $18              $18

Total cost of raw materials  $12,600      $25,200

Total direct labor hours          300            1,100

Direct labor rate per hour      $20             $12

Total cost of direct labor      $6,000      $13,200

Factory overhead                  $1,800       $6,600

Predetermined overhead rate = $6 per direct labor hour

Total cost of raw materials  $12,600      $25,200

Total cost of direct labor         6,000         13,200

Factory overhead applied        1,800          6,600

Total cost on April 30         $20,400      $45,000

Units produced                      1,000              500

Cost per unit                         $20.40        $90

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