Homework Answers
| a. | Cost of each Job: | ||||||
| Southside | Oceanview | Rocky heights | |||||
| Direct materials | 5450 | 7635 | 6480 | ||||
| Landscaper labor costs | 4810 | 5980 | 5525 | ||||
| Overhead costs | 4440 | 5520 | 5100 | ||||
| (Landscaper hours*Predetermined OH Rate) | (74*60) | (92*60) | (85*60) | ||||
| Total cost | 14700 | 19135 | 17105 | ||||
| b. | Landscape contracts in process balance=Cost of incomplete job=Cost of southside=$ 14700 | ||||||
| c. | Actual overhead=$ 15400 | ||||||
| Overhead applied=4440+5520+5100=$ 15060 | |||||||
| Ending balance of operating overhead account=15400-15060=$ 340 | |||||||
| d. | Landscaper labor cost per landscaper hour=Landscaper labor costs/Landscaper hours | ||||||
| Southside | Oceanview | Rocky heights | |||||
| Landscaper labor costs | a | 4810 | 5980 | 5525 | |||
| Landscaper hours | b | 74 | 92 | 85 | |||
| Landscaper labor cost per landscaper hour (a/b) | 65 | 65 | 65 | ||||
| Total cost of the Job: | |||||||
| $ | |||||||
| Direct materials | 10450 | ||||||
| Landscaper labor costs | 8125 | ||||||
| (Landscaper hours*Landscaper Rate per hour) | (125*65) | ||||||
| Overhead costs | 7500 | ||||||
| (Landscaper hours*Predetermined OH Rate) | (125*60) | ||||||
| Total | 26075 | ||||||
| I appreciate your ratings | |||||||
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