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Don Lieberman 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 worked on during November. Direct materials Auditor labor costs Auditor hours Blossom Crane Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $54 per auditor hour. The Blossom Inc. job is the only incomplete job at the end of November. Actual overhead for the month was $13,600. (a) Determine the cost of each job. Cullumber Blossom Inc. $640 $6,400 74 SA Cost 11036 Crane Inc. $450 $6,900 94 12426 6557 Cullumber Inc. $290 $3,675 48 (b) Indicate the balance of the Service Contracts in Process account at the end of November. Balance in service contracts in process account $ 11036

Don Lieberman 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 worked on during November. Direct materials Auditor labor costs Auditor hours Blossom Crane Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $54 per auditor hour. The Blossom Inc. job is the only incomplete job at the end of November. Actual overhead for the month was $13,600. (a) Determine the cost of each job. Cullumber Blossom Inc. $640 $6,400 74 SA Cost 11036 Crane Inc. $450 $6,900 94 12426 6557 Cullumber Inc. $290 $3,675 48 (b) Indicate the balance of the Service Contracts in Process account at the end of November. Balance in service contracts in process account $ 11036

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Don Lieberman 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 worked on during November. Direct materials Auditor labor costs Auditor hours Blossom Crane Cullumber Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $54 per auditor hour. The Blossom Inc. job is the only incomplete job at the end of November. Actual overhead for the month was $13,600. (a) Determine the cost of each job. $ LA Blossom Inc. $640 $6,400 74 $ Cost 11036 Crane Inc. $450 $6,900 12426 6557 94 (b) Indicate the balance of the Service Contracts in Process account at the end of November. Balance in service contracts in process account $ Cullumber Inc. $290 $3,675 48 Balance in operating overhead account $ SA (c) Calculate the ending balance of the Operating Overhead account for November. 11036 Dr
Transcribed Image Text:Don Lieberman 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 worked on during November. Direct materials Auditor labor costs Auditor hours Blossom Crane Cullumber Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $54 per auditor hour. The Blossom Inc. job is the only incomplete job at the end of November. Actual overhead for the month was $13,600. (a) Determine the cost of each job. $ LA Blossom Inc. $640 $6,400 74 $ Cost 11036 Crane Inc. $450 $6,900 12426 6557 94 (b) Indicate the balance of the Service Contracts in Process account at the end of November. Balance in service contracts in process account $ Cullumber Inc. $290 $3,675 48 Balance in operating overhead account $ SA (c) Calculate the ending balance of the Operating Overhead account for November. 11036 Dr
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