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Question -
(a) Calculate the ending balance of the Manufacturing Overhead account for November.
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
Walker
Barton
Direct materials
$650
$350
$200
Auditor labor costs
$5,400
$6,600
$3,375
Auditor hours
65
80
30
Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $60 per auditor hour. The Barton job is the only incomplete job at the end of November. Actual overhead for the month was $10,000.
Instructions
(a) Determine the cost of each job.
(b) Indicate the balance of the Work in Process account at the end of November.
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