Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted

image text in transcribed

image text in transcribedimage text in transcribed Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Heitger worked on four jobs in July. Data are as follows: By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process. Required: 1. Calculate the activity rates for each of the three overhead activities. Round all activity rates to the nearest cent. MaterialshandlingrateEngineeringrateOtheroverheadrate$$$permoveperchangeorderperdirectlaborhour 2. Prepare job-order cost sheets for each job showing all costs through July 31 . When required, round your answers to the nearest dollar. If an amount is zero, enter "0". Heitger Company Feedback Check My Work 2. The job-order cost sheet must include a unique number or name for this particular job, all direct costs, and all overhead costs associated with the job. 3. Calculate the balance in Work in Process on July 31. $ 4. Calculate the cost of goods sold for July. 3. Calculate the balance in Work in Process on July 31. $ 4. Calculate the cost of goods sold for July. $ 5. What if Job 13-46 required no engineering change orders? What is the difference in the new cost of Job 13-46? $ X How would the cost of the other jobs be affected? Feedback Check My Work 3. The balance in Work in Process can be computed by summing the costs of all incomplete jobs. 4. Cost of Goods Sold must be the total cost of all jobs sold during the month. 5. See Cornerstone 5.3

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

Fundamental accounting principle

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

21st edition

1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587

More Books

Students also viewed these Accounting questions

Question

4. What can management do to increase union effectiveness?

Answered: 1 week ago

Question

Which business unit spent the most?

Answered: 1 week ago

Question

How much was spent on the highest spending day?

Answered: 1 week ago

Question

How much was spent by the biggest business unit?

Answered: 1 week ago