solution of exercise 212


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Asked by 3 years ago
100 points

Exercise 2-12 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 conducted during November.

Lynn

Brian

Mike Direct materials

700

480

250 Auditor labor costs

5,620

7,660

4,040 Auditor hours

77

89

48

Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is 53per auditor hour. The Lynn job is the only incomplete job at the end of November. Actual overhead for the month was 12,710.

(a) Determine the cost of each job.

Cost Lynn

Brian

Mike

(b) Indicate the balance of the Service Contracts in Process account at the end of November. Balance...

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wisdomrays

1 Answer

W
Answered by 3 years ago
100 points

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solution of exercise 212

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Excerpt from file: Exercise 2-12 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 conducted during November. Direct materials Auditor labor

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Asked: 3 years ago

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