Question 5 of 9 172 Question Accounting D The following are the job cost related accounts for the law firm of Colaw Associates and their manufacturing equivalents: Question Accounting M Law Firm Accounts Manufacturing Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Overhead Work in Process Cost of Goods Sold Raw Materials Factory Wages Payable Question Accounting D Question Accounting M Cost data for the month of March follow. Purchased supplies on account $2,100. Viewing Question Accounting M 1. 2. Issued supplies $2,900 (60% direct and 40% indirect). 3. Assigned labor costs based on time cards for the month which indicated labor costs of $75,200 (80% direct and 20% indirect). Operating overhead costs incurred for cash totaled $50,900. Question Accounting M 4. 5. Operating overhead is applied at a rate of 90% of direct labor cost. 6. Work completed totaled $84,100. esc 51.418 1 2 Q Lock A N 72 #3 F3 $4 288 FA % d5 K.S stv 6 C W E R T Y S X D C & 7 Question Accounting M Question & Accounting M NA 0 " 4 J DI 8 LL F G H J V B N