Number 2 Larry's Lawn Services provides custom landscaping for homes and businesses and uses job order costing to capture the cost of its landscaping jobs. There are no jobs in process at the beginning of May. Listed below are data concerning the three landscaping jobs conducted during May. Southside $5,450 $4,810 74 Oceanview 1.100 $7,635 $5,980 92 Rocky Heights $6,480 $5,525 Direct materials Landscaper labor costs Landscaper hours 85 Overhead costs are applied to jobs on the basis of landscaper hours, and the predetermined overhead rate is $60 per landscaper hour. The Southside job is the only incomplete job at the end of May. Actual overhead for the month was $15,400. 2.128 0.430 Instructions Determine the cost of each job. (a) Indicate the balance of the Landscape Contracts in Process account at the end of 43000 10.050 (b) May. Calculate the ending balance of the Operating Overhead account for May. (c) bica thos cess, During May, Larry is approached by the owner of Mountain Estates who would like to contract with Larry's company. Larry is working to prepare the bid for Mountain Estates and has the following information: Direct materials, $10,450 and Landscaper hours, 125 hours. Analyze the financial information provided for Southside, Oceanview and Rocky Heights and help Larry complete his bid by estimating the total cost of the Mountain Estates job. (d) ec City University has cf the Impr noc de alf 6ofove ac dvod den uc Ma cost Cty University proces es tsi dolar anount of eavings per 12 beed on during a typical year, his tist hnge? Notu Round Ce to the nearest penny
Number 2 Larry's Lawn Services provides custom landscaping for homes and businesses and uses job order costing to capture the cost of its landscaping jobs. There are no jobs in process at the beginning of May. Listed below are data concerning the three landscaping jobs conducted during May. Southside $5,450 $4,810 74 Oceanview 1.100 $7,635 $5,980 92 Rocky Heights $6,480 $5,525 Direct materials Landscaper labor costs Landscaper hours 85 Overhead costs are applied to jobs on the basis of landscaper hours, and the predetermined overhead rate is $60 per landscaper hour. The Southside job is the only incomplete job at the end of May. Actual overhead for the month was $15,400. 2.128 0.430 Instructions Determine the cost of each job. (a) Indicate the balance of the Landscape Contracts in Process account at the end of 43000 10.050 (b) May. Calculate the ending balance of the Operating Overhead account for May. (c) bica thos cess, During May, Larry is approached by the owner of Mountain Estates who would like to contract with Larry's company. Larry is working to prepare the bid for Mountain Estates and has the following information: Direct materials, $10,450 and Landscaper hours, 125 hours. Analyze the financial information provided for Southside, Oceanview and Rocky Heights and help Larry complete his bid by estimating the total cost of the Mountain Estates job. (d) ec City University has cf the Impr noc de alf 6ofove ac dvod den uc Ma cost Cty University proces es tsi dolar anount of eavings per 12 beed on during a typical year, his tist hnge? Notu Round Ce to the nearest penny
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Number 2
Larry's Lawn Services provides custom landscaping for homes and businesses and uses job
order costing to capture the cost of its landscaping jobs. There are no jobs in process at the
beginning of May. Listed below are data concerning the three landscaping jobs conducted
during May.
Southside
$5,450
$4,810
74
Oceanview
1.100 $7,635
$5,980
92
Rocky Heights
$6,480
$5,525
Direct materials
Landscaper labor costs
Landscaper hours
85
Overhead costs are applied to jobs on the basis of landscaper hours, and the predetermined
overhead rate is $60 per landscaper hour. The Southside job is the only incomplete job at the
end of May. Actual overhead for the month was $15,400.
2.128
0.430
Instructions
Determine the cost of each job.
(a)
Indicate the balance of the Landscape Contracts in Process account at the end of
43000
10.050
(b)
May.
Calculate the ending balance of the Operating Overhead account for May.
(c)
bica
thos
cess,
During May, Larry is approached by the owner of Mountain Estates who would like to
contract with Larry's company. Larry is working to prepare the bid for Mountain
Estates and has the following information: Direct materials, $10,450 and Landscaper
hours, 125 hours. Analyze the financial information provided for Southside,
Oceanview and Rocky Heights and help Larry complete his bid by estimating the
total cost of the Mountain Estates job.
(d)
ec
City University has
cf the
Impr
noc
de
alf
6ofove
ac
dvod
den uc
Ma
cost
Cty University proces es
tsi dolar anount of eavings
per
12
beed on
during a typical year,
his
tist
hnge?
Notu Round
Ce
to the nearest penny
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