Answered step by step
Verified Expert Solution
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
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started