Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. don lieberman and associates, a cpa firm, uses job

Don Lieberman and Associates, a CPA firm, uses job order costing to capture the costs...

90.2K

Verified Solution

Question

Accounting

image

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 worked on during November. Direct materials Auditor labor costs Auditor hours Blossom Inc. $ 610 $5,500 Crane Inc. Cullumber Inc. $410 $ 210 $6,700 $3,475 89 46 73 Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $ 51 per auditor hour. The Blossom Inc. job is the only incomplete job at the end of November. Actual overhead for the month was $ 12,100. (a) Determine the cost of each job. Cost Blossom $ Crane $ Cullumber $ (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 $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. Morgan was working out and she noticed that a portion of her leg did not...

Medical Sciences
Q

A power train application requires the coupling of a spur gear to a transmission shaft operating...

Mechanical Engineering
Q

m A frictionless cart of mass M carries two other frictionless carts having masses m...

Physics
Q

Solve the equation for x 5x 4x 6 2 26 5 OA OB OC OD...

Basic Math
Q

Lesson Cool Down How Often Is It Calculated A savings account pays a 3 nominal...

Algebra
Q

Large companies have their accounting systems integrated within the automated business systems of the firm....

Accounting
Q

The accounting department prepares a bank reconciliation at the end of each month. The following...

Accounting
Q

1. Leticia compr una casa el 1 de julio de 2017 por $240,000. Pag un...

Accounting
Q

What is the answer please? Question 11 Not yet answered...

Accounting
Q

NAME ECONOMIC INDICATORS ATOT Is This Part of GDP? Warm Up DIRECTIONS GDP made up...

Accounting
Q

Calculating unit cost; units gained in production A company manufactures a liquid product called Glitter....

Accounting
Q

One safe investment pays 10% per year, and a more risky investment pays 18% per...

Finance