Question: Don Lieberman and Associates, a CPA firm, uses job order costing to capture to capture the costs of its audit jobs. There were no audit jobs in process at the beginning of November jobs conducted during November. Overhead costs are applied to jobs on the banks of auditor hours, and the predetermined overhead rate in $53 per auditor hour. The Lyme job is the only incomplete job and was $14,000.
(a) Determine the cost of each job.
(b) Indicate the balance of the Service Contracts in Process account at the and of November. Distance in service contracts in process account $
(c) Calculate the ending balance of the Operating overhead account for November Balance is operating overhead account $