Hello

So helpful on my last question I was wondering if you could help me on this job order costing problem?

JOB-ORDER COSTING The Corrs Company uses normal costing to assign costs in its job-order costing system. The company began operations on December 1, 2007. The company assigns overhead to jobs using direct labor cost. Only 2 jobs were worked on during December. Job A was assigned total product costs of $60,000, of which $16,000 was for direct materials and $20,000 was for direct labor). Job A was completed during December and consisted of 1,200 units, of which 1,000 units were sold during December. Job B was assigned total product costs of $35,000 during December, of which $13,000 was for direct materials. During December, the company purchased $40,000 of total materials (direct plus indirect). Indirect materials costing $3,000 were used during December. Any under(over)allocated overhead during December was closed totally to Cost of Goods Sold. For reporting purposes, the company uses a calendar year, so December was treated as a time period all by itself. For the year 2008, the company will continue to charge overhead to jobs using direct labor cost. The estimated direct labor cost for 2008 is $150,000, and the estimated overhead cost for 2008 is $187,500. Three jobs were worked on during 2008. The direct costs charged to these during 2008 are as follows: Job B Direct Materials Cost Job C Job D $18,000 $30,000 $20,000 Direct Labor Cost $40,000 $88,000 Units on completed job $32,000 50 units 200 units Not finished Total materials costing $90,000 were purchased during 2008. Actual overhead cost for 2008 was $211,200. Of this amount, $7,000 was for indirect materials. Job B and Job C were completed during 2008, while Job D was not finished. Sales for 2008 included 200 units of Job A, 30 units of Job B, and 160 units of Job C. Total revenue for 2008 was $350,000. Selling and administrative expenses for 2008 were $98,000. For now, assume that any under(over)allocated overhead is closed totally to Cost of Goods Sold for 2008. A. Compute the Cost of Goods Manufactured for December, 2007. Do not do a schedule. ___________ __ B. Now prepare a Schedule of Cost of Goods Manufactured for 2008 (thats 2008, not 2007). Your schedule should be in good form, but you do not need a heading. C. Compute the underallocated or overallocated overhead for 2008, and tell whether it is underallocated or overallocated. _______________________ __ D. Prepare an income statement for 2008. It should be in good form, but you do not need a heading. E. If the company wanted to prorate the under(over)allocated overhead using the total ending balances of the appropriate accounts, what percentage would be allocated to Work in Process (round your answer to the nearest per cent, if needed). _____________ F. Now prorate the under(over)allocated overhead in the most theoretically correct manner. Show the amount of the under(over)allocated overhead that should be prorated to each account. G. If the company had used actual costing during 2008, what would be the overhead rate for the year. H. If the company has used actual costing during 2008, how much overhead would have been charged to Job C? E. Compute the total cost that would be charged to the ending Work in Process for October. November. There were 32,000 units started during November. There were 6,500 units in the ending Work in Process for November, 40% complete as to processing. Spoilage during November amounted to 1,500 units. Costs incurred during November included $351,450 for direct materials and $446,515 for conversion. Use the average method for November. F. Prepare an equivalent units chart for November (average). G. Compute the unit costs for November (average). H. Compute the Cost of Goods Manufactured for November (average)