Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 of $8,810 and Job 94 with a beginning balance of $7,320. Jagjit applies overhead at the rate of $7 per direct labor hour. Direct per hour. Data on August costs for all jobs are as follows; During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. Al process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. 2. Calculate the overherd applied to each job during the month of August: 3. Prepare job-order cost sheets for each job as of the end of August. All an 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is 1 5. What is the price of Job 93 ? The price of job 93 is 5 6. Conceptual Connection: Part way through the year, Jagit bought a bulldozer to handle farger jobs. The bulldozer cost $35,300 and is needed for large: commercialjobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separate for the acquisition and use of the bulldozer. Treat the bulldozer's depredation, fuel, maintenance, etc. as - Divide this by the anticipated annual hours of use to arrive at the Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 of $8,810 and Job 94 with a beginning balance of $7,320. Jagjit applies overhead at the rate of $7 per direct labor hour. Direct per hour. Data on August costs for all jobs are as follows; During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. Al process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. 2. Calculate the overherd applied to each job during the month of August: 3. Prepare job-order cost sheets for each job as of the end of August. All an 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is 1 Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,810 and Job 94 with a beginning balance of $7,320, Jagjit applies overhead at the rate of $7 per direct iabor hour. Direct iabor wages average $17 per hour. Data on August costs for all jobs are as follows: During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. 2. Calculate the overhead applied to each job during the month of August. 5. What is the price of Job 93 ? The price of job 93 is 5 6. Conceptual Connection: Part way through the year, Jagit bought a bulldozer to handle farger jobs. The bulldozer cost $35,300 and is needed for large: commercialjobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separate for the acquisition and use of the bulldozer. Treat the bulldozer's depredation, fuel, maintenance, etc. as - Divide this by the anticipated annual hours of use to arrive at the
