Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At the beginning of the month. Daniel's Business Services had two incomplete consulting engagements (jobs) that had the following costs assigned from previous months. During

image text in transcribed
At the beginning of the month. Daniel's Business Services had two incomplete consulting engagements (jobs) that had the following costs assigned from previous months. During the month, Jobs DBS-32 and DBS-35 were completed but not billed to customers. Completion of DBS 32 required an additional $34,000 in associate labot, For DES-35, an additional \$105,500 in associate labor was incurred. During the month, the only new job, DBS-36, was started but not finished. Total direct labor costs for all jobs amounted to $188,300 for the month. Overhead in this company refers to the cost of work that is not directly traced to particular jobs, including supplies, copying. pinting and travel costs to meet with clients. Overhead is applied at a rate of 75 percent of associate labor costs. This rate has not changed for many months. Actual overhead for the month was $137,710. Required: o. What are the costs of Jobs DBS- 32 and DBS 35 at (1) the beginning of the month and (2) when completed? b. What is the cost of Job DBS: 36 at the end of the month? c. How much was under- or cverapplied service overhead for the month? Complete this question by entering your answers in the tabs below. What are the costs of robs DES-32 and DBS 35 at (1) the beginning of the month and (2) when completed? At the beginning of the month. Daniel's Business Services had two incomplete consulting engagements (jobs) that had the following costs assigned from previous months. During the month, Jobs DBS-32 and DBS-35 were completed but not billed to customers. Completion of DBS 32 required an additional $34,000 in associate labot, For DES-35, an additional \$105,500 in associate labor was incurred. During the month, the only new job, DBS-36, was started but not finished. Total direct labor costs for all jobs amounted to $188,300 for the month. Overhead in this company refers to the cost of work that is not directly traced to particular jobs, including supplies, copying. pinting and travel costs to meet with clients. Overhead is applied at a rate of 75 percent of associate labor costs. This rate has not changed for many months. Actual overhead for the month was $137,710. Required: o. What are the costs of Jobs DBS- 32 and DBS 35 at (1) the beginning of the month and (2) when completed? b. What is the cost of Job DBS: 36 at the end of the month? c. How much was under- or cverapplied service overhead for the month? Complete this question by entering your answers in the tabs below. What are the costs of robs DES-32 and DBS 35 at (1) the beginning of the month and (2) when completed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Weygandt Kimmel Kieso

10th Edition

0470646462, 978-0470646465

More Books

Students also viewed these Accounting questions

Question

=+d) Can you reject the null hypothesis of part c? Explain.

Answered: 1 week ago