What is the balance in the overhead account at the end

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Reference no: EM131810202

The following table provides data concerning the three landscaping projects that were in process during May. There was no work in process at the beginning of May:

Williams			Chandler			Nguyen
Designer-hours		150			50			75
Direct materials cost	$	7,600		$	3,060		$	6,120
Direct labour cost	$	3,800		$	1,700		$	2,550

Actual overhead costs were $12,925 for May. Overhead costs are applied to projects on the basis of designer-hours since most of the overhead is related to the costs of the garden design studio.

The predetermined overhead rate is $49 per designer-hour. The Williams and Chandler projects were completed in May; the Nguyen project was not completed by the end of the month. No other jobs were in process during May.

Question:

1. Prepare a journal entry showing the completion of the Williams and Chandler projects and the transfer of costs to the Completed Projects (i.e., Finished Goods) account.

In this format

	Transaction	General Journal	Debit	Credit
1	01	?
2		?
3		?
4		?
5		?
6		?

2. What is the balance in the Work in Process account at the end of the month?

3. What is the balance in the Overhead account at the end of the month?

Reference no: EM131810202

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