Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At the beginning of the October, Leah's Tax Services had two jobs in process that had the following costs assigned from previous months: Job

image text in transcribed

At the beginning of the October, Leah's Tax Services had two jobs in process that had the following costs assigned from previous months: Job Number AX - 1400 AX - 1403 Direct Labor $33,000 $40,000 Applied Overhead $29,700 $36,000 During October the following costs were added: Job Number AX - 1400 AX - 1403 AX - 1404 Direct Labor $25,400 $31,600 $19600 Applied Overhead 2 2 ? Job AX - 1404 was started but not finished in October. The other jobs were completed in October. Overhead costs include all costs of providing the services that are not traceable to individual jobs. Overhead is applied using a pre- determined overhead rate of 90 percent of direct labor costs in all periods. Actual service overhead for October was $81373. Leah only adjusts over or under applied overhead when it closes its books for the year at the end of December. What is the total amount of overhead assigned to jobs in October? (Round your answer to the nearest $1.00.)

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_2

Step: 3

blur-text-image_3

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 Information Systems The Processes and Controls

Authors: Leslie Turner, Andrea Weickgenannt

2nd edition

9781118473030, 1118162307, 1118473035, 978-1118162309

More Books

Students also viewed these Accounting questions