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Your answer is partially correct. Try again. Don Lieberman and Associates, a CPA firm, uses job order costing concerning the three audit jobs conducted during
Your answer is partially correct. Try again. Don Lieberman and Associates, a CPA firm, uses job order costing concerning the three audit jobs conducted during November. capture the costs of its audit jobs. There were no audit jobs in process at the beginning of November. Listed below are data Renolds Inc. Bayfield Inc. $250 Direct materials Auditor labor costs Auditor hours Waters Inc. $710 $5,800 78 $430 $7,400 $3,575 51 91 Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $55 per auditor hour. The Waters job is the only incomplete job at the end of November. Actual overhead for the month was $14,000. (a) Determine the cost of each job. Cost Waters 11474 Renolds 13621 X Bayfield 7070 (b) Indicate the balance of the Service Contracts in Process account at the end of November. Balance in service contracts in process account 11474 (c) Calculate the ending balance of the Operating Overhead account for November X Balance in operating overhead account 68
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