Waterway and Associates, a CPA 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. Direct materials Auditor labor costs Auditor hours Waters Inc. $690 $5,600 77 Renolds Inc. $480 $6,900 89 Bayfield Inc. $250 $3,675 46 Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $57 per auditor hour. The Waters Inc. job is the only incomplete job at the end of November. Actual overhead for the month was $12,700. (a) Determine the cost of eachjob. Cost Waters $ Renolds $ Bayfield $ (b) Indicate the balance of the Service Contracts in Process account at the end of November. Balance in service contracts in process account $ (c) Calculate the ending balance of the Operating Overhead account for November Balance in operating overhead account Coronado Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 21,400, direct labor $ 12,840, and manufacturing overhead $ 17,120. As of January 1, Job 49 had been completed at a cost of $ 96,300 and was part of finished goods inventory. There was a $ 16,050 balance in the Raw Materials Inventory account. During the month of January, Coronado Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold during the month. The following additional events occurred during the month. 1 Purchased additional raw materials of $ 96,300 on account. Incurred factory labor costs of $ 74,900. Incurred manufacturing overhead costs as follows: indirect materials $ 18,190; indirect labor $ 21,400; depreciation expense on equipment $ 12,840 ; and various other manufacturing overhead costs on account $ 17,120. Assigned direct materials and direct labor to jobs as follows. 2. 3. 4. Job No. 50 Direct Materials $ 10,700 41,730 32,100 Direct Labor $5,350 26,750 21,400 51 52 Calculate the predetermined overhead rate for 2020, assuming Coronado Company estimates total manufacturing overhead costs of $ 898,800, direct labor costs of $ 749,000, and direct labor hours of 21,400 for the year. (Round answer to the nearest whole percent, e.g. 25%.) (b) Open job cost sheets for Jobs 50, 51, and 52. Enter the January 1 balances on the job cost sheet for Job 50. Job No. 50 Date Direct Materials Direct Labor Manufacturing Overhead Beg. $ Jan. $ Cost of completed job Direct materials Direct labor Manufacturing overhead Total cost Job No. 51 Date Direct Materials Direct Labor Manufacturing Overhead Jan. $ $ $ $ $ Prepare the journal entries to record (1) the purchase of raw materials (2) the factory labor costs incurred, and (3) the manufacturing overhead costs incurred during the month of January. (Credit account titles are automatically indented when amount is entered. Do not indent manually