Question
Exercise 15-12 . Don Lieberman and Associates, a CPA firm, uses job order costing to capture the costs of its audit jobs. There were no
Exercise 15-12 . Don Lieberman and Associates, a CPA firm, uses job order costing to capture the costs of its audit jobs. There were no audit jobs in process at the beginning of November. Listed below are data concerning the three audit jobs conducted during November. Waters Inc. Renolds Inc. Bayfield Inc. Direct materials $660 $510 $290 Auditor labor costs $5,900 $7,000 $3,675 Auditor hours 76 94 49 Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $54 per auditor hour. The Waters job is the only incomplete job at the end of November. Actual overhead for the month was $12,100. (a) Determine the cost of each job. Cost Waters $enter a dollar amountEntry field with incorrect answer 6636 Renolds $enter a dollar amountEntry field with incorrect answer 7604 Bayfield $enter a dollar amountEntry field with incorrect answer 4014 (b) Indicate the balance of the Service Contracts in Process account at the end of November. Balance in service contracts in process account $enter a dollar amountEntry field with incorrect answer (c) Calculate the ending balance of the Operating Overhead account for November. Balance in operating overhead account $enter a dollar amountEntry field with incorrect answer select an optionEntry field with incorrect answer Click if you would like to Show Work for this question: Open Show Work
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