Prepare entries for costs of Services provided (LO 1, 3,4 52-118 Shown below are the job cost related accounts for the law firm of Libert, Scale and Point and their manufacturing equivalents: Law Firm Accounts Manufacturing Firm Accounts Supplies Raw Materials Salaries and Wages Payable Factory Wages Payable Operating Overhead Manufacturing Overhead Service Contracts in Process Work in Process Cost of Completed Service Contracts Cost of Goods Sold Cost data for the month of March follow. 1. Purchased supplies on account $1,795 2. Issued supplies $1,000 (70% direct and 30% Indirect). 3. Time cards for the month indicated labor costs of $55.000 (75% direct and 25% indirect). 4. Operating overhead costs incurred for cash totaled $30,000 5. Operating overhead is applied at a rate of 80% of direct attorney cost. 6. Work completed totaled $68,000 Instructions (a) Journalize the transactions for March. Omit explanations. (b) Determine the balance of the Service Contracts in Process account. Use a T account. E2-12B Lawler and Associates, a C.P.A. 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 Manson Walker Barton Direct materials $ 650 $ 350 $200 Auditor labor costs $5.400 $6,600 $3,375 Auditor hours 80 Determine cost of jobs and ending balance in work in process and overhead Acco [LO 2, 3, 5) Define predetermined overhead , apply overhead and determine whether balance under or overapplied (LO 3.5 Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $60 per auditor hour. The Barton job is the only incomplete job at the end of November. Actual overhead for the month was $10,000 Instructions (a) Determine the cost of cach job. (b) Indicate the balance of the Work in Process account at the end of November (c) Calculate the ending balance of the Manufacturing Overhead account for November E2-13B Swift Decorating uses a job order casting system to collect the cost of its interior decorating business. Each client's consultation is treated as a separate job. Overhead is applied to each job based on the number of decorator hours incurred. Listed below are data for the current year Estimated overhead $850.000 Actual overhead S879.000 Estimated decorator hours 50.000 Actual decorator hours 52.000 The company uses Operating Oyerhead in place of Manufacturing Overhead Instructions (a) Compute the predetermined overhead rate. (b) Prepare the entry to apply the overhead for the year. (c) Determine whether the overhead was under or overapplied and by how much