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 $ 650 $5,400 65 Walker $ 350 $6,800 80 Barton Direct materials Auditor labor costs $ 200 $3,375 30 Auditor hours Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $75 per auditor hour. The Barton job is the only incomplete job at the end of November. Actual overhead for the month was $10,000.
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 $ 650 $5,400 65 Walker $ 350 $6,800 80 Barton Direct materials Auditor labor costs $ 200 $3,375 30 Auditor hours Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $75 per auditor hour. The Barton job is the only incomplete job at the end of November. Actual overhead for the month was $10,000.
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Question 03
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.
Account
Manson
Walker
Barton
$ 650
$5,400
$ 200
$3,375
$ 350
Direct materials
Auditor labor costs
Dashboard
$6,800
80
Auditor hours
65
30
Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined
overhead rate is $75 per auditor hour. The Barton job is the only incomplete job at the end
of November. Actual overhead for the month was $10,000.
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Instructions
(a) Determine the cost of each 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.
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Question 04
History
What type of industry is likely to use a job order cost system? Give some examples.
а.
b. What type of industry is likely to use a process cost system? Give some examples.
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