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Kelly Construction Company, a three-year-old business, provides contracting and construction services to a variety of...

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Question

Accounting

Kelly Construction Company, a three-year-old business, provides contracting and construction services to a variety of clients. Given
that each construction job is different from the others, Susan Byrd, the company's accountant, decided to use a job-order costing
system to allocate costs to the different jobs. She decided to use construction labour hours as the basis for overhead allocation. In
December 2021, she estimated the following amounts for the year 2022:
Byrd recorded the following for the third quarter of 2022 for the three jobs that the company started and completed during the quarter.
Required:
Compute the predetermined overhead allocation rate for 2022 and apply overhead to the three jobs. (Round your "Predetermined
overhead allocation rate" to 2 decimal places.)
Answer is complete and correct.
Answer is complete but not entirely correct.
Compute the cost of each job. (Do not round intermediate calculations.)
Answer is complete but not entirely correct.
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