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3:32 PM Pad edugen wileyplus.com what can L.. Instagram H... Chattanoog... Instagram H McKamey A... Reset Pass... WileyPLUS CALCULATOR PRINTER VERSEON BAC00 NEXT Exercise 15-12 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. Brian Mike Direct material $630 $490 $220 Auditor labor costs $5,800 $7,280 $3,480 Auditor hours 51 overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $52 per auditor hour. The Lynn job is the only incomplete job at the end of November. Actual overhead for the month was $13,880. (a) Determine the cost of each job. Lynn Brian s Mike (b) Indicate the balance of the Service Contracts in Process account at the end of November Balance in service contracts in process account (c) Calculate the ending balance of the Operating overhead account for November. Balance in operating overhead account Click if you would like to show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Question Attempts: o of 3 used SAVE FOR LATER SUBMIT ANSwER Earn Maximum Points available only if you answer this question correctly in two attempts or less. Copyright D 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved.

Explanation / Answer

a)

Cost of job = Direct material cost + Auditor labor cost + applied overhead cost

Lyen = $630 + $5800 + $ 3796 = $ 10226

Brian = $490 + $7280 +$ 4628 = $ 12398

Mike = $220 + $3480 + $ 2652 = $ 6352

b) The lynn job is the only incomplete job, therefore $10226

c) Actual overhead $ 13880 (DR)

Applied overhead $ 11076 (CR)

Balance $ 2894 (DR)

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