{"id":53206,"date":"2021-09-24T17:19:53","date_gmt":"2021-09-24T17:19:53","guid":{"rendered":"https:\/\/papersspot.com\/blog\/2021\/09\/24\/exercise-to-capture-the-cost-of-audit-jobs\/"},"modified":"2021-09-24T17:19:53","modified_gmt":"2021-09-24T17:19:53","slug":"exercise-to-capture-the-cost-of-audit-jobs","status":"publish","type":"post","link":"https:\/\/papersspot.com\/blog\/2021\/09\/24\/exercise-to-capture-the-cost-of-audit-jobs\/","title":{"rendered":"Exercise to capture the cost of audit jobs"},"content":{"rendered":"<p>There were no audit jobs in process at the beginning of November. Listed below are data concerning the three audit jobs conducted during November.<br \/> Lynn<br \/> Brian<br \/> Mike<br \/> Direct materials $700 $470 $260<br \/> Auditor labor costs $5,720 $6,850 $3,700<br \/> Auditor hours 75 89 48<br \/> Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $51 per auditor hour. The Lynn job is the only incomplete job at the end of November. Actual overhead for the month was $12,290.<br \/> (a) Determine the cost of each job.<br \/> Cost<br \/> Lynn $<br \/> Brian $<br \/> Mike $<br \/> (b) Indicate the balance of the Service Contracts in Process account at the end of November.<br \/> Balance in service contracts in process account $<br \/> (c) Calculate the ending balance of the Operating Overhead account for November.<br \/> Balance in operating overhead account $<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There were no audit jobs in process at the beginning of November. Listed below are data concerning the three audit jobs conducted during November. Lynn Brian Mike Direct materials $700 $470 $260 Auditor labor costs $5,720 $6,850 $3,700 Auditor hours 75 89 48 Overhead costs are applied to jobs on the basis of auditor hours, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10],"class_list":["post-53206","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-writing"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/53206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=53206"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/53206\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=53206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=53206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=53206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}