Kenneth Clark and Associates, a CPA firm, uses job order costing...
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Kenneth Clark 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 Direct materials Auditor labor costs Auditor hours Waters Inc. 5690 $5,600 77 Renolds Inc. $490 $7,600 89 Bayfield Inc. $310 $3,575 50 Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $56 per auditor hour. The Waters job is the only incomplete job at the end of November. Actual overhead for the month was 512 400 la) Determine the cost of each job. Cost 5 Renoids 5 Bayheld $ indicate the balance of the Service Contracts in Process account at the end of November, Balance in service contracts in process account $ le Calculate the ending balance at the Operating Overhead account for November Balance in operating overhead account S Textbook and Media
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