Herron Company designs and builds retaining walls for individual customers. On August 1, there were two...

  
 

 

 

 

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Herron Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 730 with a beginning balance of $12,600, and Job 731 with a begin- ning balance of $9,400. Herron applies overhead at the rate of $15 per direct labour hour. Direct labour wages average $20 per hour. Data on August costs for all jobs are as follows: Job 730 Job 731 $1,800 $12,000 3,600 8,000 Direct materials Direct labour cost Job 732 $3,150 4,000 Job 733 $4,500 1,600 During August, Jobs 732 and 733 were started. Job 730 was completed on August 17, and the client was billed at cost plus 60 percent. All other jobs remained in process. Required: 1. Calculate the number of direct labour hours that were worked on each job in August. 2. Calculate the overhead applied to each job during the month of August. 3. Prepare job-order cost sheets for each job as at the end of August. 4. Calculate the balance in Work in Process as at August 31. 5. What is the price of Job 730? Remember to enter numeric amounts without a $ or, (a comma). If the answer is $20,000.00, then enter the number as 20000. Remember to round to 2 decimal places. For numbers such as 1.456, round up to 1.46 and for numbers such as 1.452, round down to 1.45 Required: 1. Calculate the number of direct labour hours that were worked on each job in August. You will need this information to complete this question. HINT: consider the information you have been given for each job and the wage rate. 2. Calculate the overhead applied to each job during the month of August. HINT: you need to use the application rate provided and the ACTUAL direct labour hours you calculated in (1). 3. Provide the following total costs for each of the jobs: The total cost of Job 730 is $ The total cost of Job 731 is $ The total cost of Job 732 is $ A A 신 The total cost of Job 733 is $ A 4. The work in process account at August 31 consists of the following unfinished jobs: (730, 731, 732, 733). A/ A/ 1 5. The price of Job 730 is $ A/ (730, 731, 732, 733). The total cost of the unfinished jobs still included in work in process is $ Save N A A Herron Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 730 with a beginning balance of $12,600, and Job 731 with a begin- ning balance of $9,400. Herron applies overhead at the rate of $15 per direct labour hour. Direct labour wages average $20 per hour. Data on August costs for all jobs are as follows: Job 730 Job 731 $1,800 $12,000 3,600 8,000 Direct materials Direct labour cost Job 732 $3,150 4,000 Job 733 $4,500 1,600 During August, Jobs 732 and 733 were started. Job 730 was completed on August 17, and the client was billed at cost plus 60 percent. All other jobs remained in process. Required: 1. Calculate the number of direct labour hours that were worked on each job in August. 2. Calculate the overhead applied to each job during the month of August. 3. Prepare job-order cost sheets for each job as at the end of August. 4. Calculate the balance in Work in Process as at August 31. 5. What is the price of Job 730? Remember to enter numeric amounts without a $ or, (a comma). If the answer is $20,000.00, then enter the number as 20000. Remember to round to 2 decimal places. For numbers such as 1.456, round up to 1.46 and for numbers such as 1.452, round down to 1.45 Required: 1. Calculate the number of direct labour hours that were worked on each job in August. You will need this information to complete this question. HINT: consider the information you have been given for each job and the wage rate. 2. Calculate the overhead applied to each job during the month of August. HINT: you need to use the application rate provided and the ACTUAL direct labour hours you calculated in (1). 3. Provide the following total costs for each of the jobs: The total cost of Job 730 is $ The total cost of Job 731 is $ The total cost of Job 732 is $ A A 신 The total cost of Job 733 is $ A 4. The work in process account at August 31 consists of the following unfinished jobs: (730, 731, 732, 733). A/ A/ 1 5. The price of Job 730 is $ A/ (730, 731, 732, 733). The total cost of the unfinished jobs still included in work in process is $ Save N A A

Answer rating: 100% (QA)

job Direct labour cost A wage rate B Direct labour hours C AB overhead 15C 730 3600 20 180 2700 731 ... View the full answer