pplying Overhead to Jobs, Costing Jobs Job-Order Cost Sheets instructions Amount Descriptions Starting Questions Instructions Jagit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,810, and Job 94 with a beginning balance of $7,330. Jagjit applies overhead at the rate of $10 per direct labor hour. Direct labor wages average $18 per hour. Data on August costs for all jobs are as follows Job 95 Job 96 Job 93 Job 94 Direct materials $920 $4,540 $3,340 $1,290 1,080 Direct labor cost 2,160 5,940 2,160 During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40 %. All other jobs remained in process. Required: 1. Caloulate the number of direct labor hours that were worked on each job in August 2. Caloulate the overhead applied to each job during the month of August 3. Prepare job-order cost sheets for each job as of the end of August ACaininte thehainnan in 1Aina in Dennne.an Amunt 31 Calculator ook pplying Overhead to Jobs, Costing Jobs nstructione Amount Descriptions Starting Questions Job-Order Cost Sheets Instructions Direct materials $920 $4,540 $3,340 $1,290 Direct labor cost 2,160 5,940 2,160 1,080 During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the clent was billed at cost plus 40%. All other jobs remained in process. Required: 1. Caloulate the number of direct labor hours that were worked on each job in August 2. Calculate the overhead applied to each job during the month of August. 3. Prepare job-order cost sheets for each job as of the end of August 4. Calculate the balance in Work in Process on August 31 5. What is the price of Job 937 6. CONCEPTUAL CcONNECTION: Partway through the year, Jagit bought a buldozer to handle larger jobs. The buldozer cost $35, 100 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. How could the buldozer's cost be applied to only those jobs that need the larger equipment? pplying Overhead to Jobs, Costing Jobs Instructions Amount Descriptions Starting Questions Job-Order Cost Sheets Instructions Amount Descriptions Refer to the list below for the exact wording of text items within your job-order cost sheets. Amount Descriptions 0%. Du Applied overhead Beginning balance Direct labor Direct materials Total ldoze could Starting Questions 1. Calculate the number of direct labor hours that were worked on each job in August DLH Du Job 93 Job 94 DLH Job 95 DLH Job 96 DLH 2. Calculate the overhead applied to each job during the month of August Job 93 Job 94 Job 95 Job 96 Job-Order Cost Sheets 3. Prepare job-order cost sheets for each job as of the end of August. Refer to Amount Descriptions for the exact wording of text items within your job-order cost sheets. All amount cells must have an entry; enter zeros as needed Jagit Company Job-Order Cost Sheets August 31 Job 93 Job 94 Job 95 Job 96 2 Beginning balance
