Indah Architects use the job costing method to identify the costs of construction projects. The company...

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Indah Architects use the job costing method to identify the costs of construction projects. The company offers consulting services and house plan drawings to customers. The details below presents the report for three ongoing projects in October 2023. Draftsman Hours Direct Raw Material Direct Labor 84 RM3,200 RM6,700 A 70 Projek B RM2,600 RM5,500 63 с RM1,100 RM5,000 The overhead cost for October 2023 is RM21,000. The absorbed overhead cost into each project is based on the number of draftsman hours. The predetermined overhead cost is RM120 for each draftsman hour. Projects A and B are expected to be completed in October 2023, while Project C is expected to be completed in November 2023. You are required to: a) Calculate the total overhead costs to be incurred for each project in October 2023. b) Calculate and prepare journal entries for costs to be transferred to the finished project account for October 2023. c) Calculate the work in process (WIP) balance for October 2023. d) Calculate the remaining overhead account balance at the end of the month and explain its position. Indah Architects use the job costing method to identify the costs of construction projects. The company offers consulting services and house plan drawings to customers. The details below presents the report for three ongoing projects in October 2023. Draftsman Hours Direct Raw Material Direct Labor 84 RM3,200 RM6,700 A 70 Projek B RM2,600 RM5,500 63 с RM1,100 RM5,000 The overhead cost for October 2023 is RM21,000. The absorbed overhead cost into each project is based on the number of draftsman hours. The predetermined overhead cost is RM120 for each draftsman hour. Projects A and B are expected to be completed in October 2023, while Project C is expected to be completed in November 2023. You are required to: a) Calculate the total overhead costs to be incurred for each project in October 2023. b) Calculate and prepare journal entries for costs to be transferred to the finished project account for October 2023. c) Calculate the work in process (WIP) balance for October 2023. d) Calculate the remaining overhead account balance at the end of the month and explain its position.

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Here are the answers a Overhead costs to be incurred for each project Project A 84 hrs ... View the full answer