pplying Overhead to Jobs, Costing Jobs agjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a eginning balance of $8,720 and Job 94 with a beginning balance of $7,230. Jagjit applies overhead at the rate of $9 per direct labór hour. Direct labor wages average $19 per hour. Data on August costs for all jobs are as follows: Job 93 $970 Job 94 2,470 Job 95 Direct materials $4,480 $1,350 Direct labor cost 6,270 950 During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Job 96 $3,220 2,280

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Chapter1: Financial Statements And Business Decisions
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Applying Overhead to Jobs, Costing Jobs
Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a
beginning balance of $8,720 and Job 94 with a beginning balance of $7,230. Jagjit applies overhead at the rate of $9 per direct labór hour.
Direct labor wages average $19 per hour. Data on August costs for all jobs are as follows:
Job 93
Job 94
Direct materials
Direct labor cost
Job 95
$970
2,470
$4,480
6,270
During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other
jobs remained in process.
Job 96
$3,220
2,280
$1,350
950
Ⓡ
Transcribed Image Text:Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,720 and Job 94 with a beginning balance of $7,230. Jagjit applies overhead at the rate of $9 per direct labór hour. Direct labor wages average $19 per hour. Data on August costs for all jobs are as follows: Job 93 Job 94 Direct materials Direct labor cost Job 95 $970 2,470 $4,480 6,270 During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Job 96 $3,220 2,280 $1,350 950 Ⓡ
4. Calculate the balance in Work in Process on August 31.
The work in process balance on August 31 is s
5. What is the price of Job 93?
The price of Job 93 is
Transcribed Image Text:4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is s 5. What is the price of Job 93? The price of Job 93 is
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