Pedro Morales and Associates, a CPA firm, uses job-order costing to capture the costs of its audit
Question:
Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $60 per auditor hour. The Koppel job is the only incomplete job at the end of November. Actual overhead for the month was $12,000.
Instructions
(a) Determine the cost of each job.
(b) Indicate the balance of the Work in Process account at the end of November.
(c) Calculate the ending balance of the Overhead account for November.
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Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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