Pearson architectural design began operations on january 2

Reference no: EM13588043

Pearson Architectural Design began operations on January 2. The following activity was recorded in the company's Work in Process account for the first month of operations:

Work in Process


Costs of subcontracted work	89,000	To completed projects	567,600
Direct staff costs	201,000
Studio overhead	321,600

Pearson Architectural Design is a service firm, so the names of the accounts it uses are different from the names used in manufacturing companies. Costs of Subcontracted Work is comparable to Direct Materials; Direct Staff Costs is the same as Direct Labor; Studio Overhead is the same as Manufacturing Overhead; and Completed Projects is the same as Finished Goods. Apart from the difference in terms, the accounting methods used by the company are identical to the methods used by manufacturing companies.

Pearson Architectural Design uses a job-order costing system and applies studio overhead to Work in Process on the basis of direct staff costs. At the end of January, only one job was still in process.This job had been charged with $13,400 in direct staff costs.

1.Compute the predetermined overhead rate that was in use during January.

Complete the following job cost sheet for the partially completed Krimmer Corporation Headquarters project.

Job Cost Sheet Krimmer Corporation Headquarters Project As of January 31
Costs of subcontracted work	$
Direct staff costs
Studio overhead

Total cost to January 31	$

Reference no: EM13588043

Questions Cloud

Briefly explain the concept behind inventory turnover and : briefly explain the concept behind inventory turnover and how management uses it to measure their performance in

If the production of 2000 units which were selling at 40 : if the production of 2000 units which were selling at 40 possessing the variable cost 24 and fixed cost 20000.

Fosson furniture uses a process cost system to account for : fosson furniture uses a process cost system to account for its chair factory. beginning inventory consisted of 5000

Suppose you develop an algorithm that processes the first : consider searching algorithms on the following array of data 22 21 9 4 16 2 10 14 20 31 26 19 17 28 8 13 suppose you

Pearson architectural design began operations on january 2 : pearson architectural design began operations on january 2. the following activity was recorded in the companys work in

Brooks city has three consolidated high schools each with a : brooks city has three consolidated high schools each with a capacity of 1200 students. the school board has partitioned

400 shares lupe jaimes daughter owns 400 shares and the : 1. kimye corporation e amp p of 700000 has 1000 shares of stock outstanding. stewart owns 400 shares lupe stewarts

Assume that the heat lost by the surface is gained by ethyl : question assume that the heat lost by the surface is gained by ethyl chloride. what enthalpies must you consider if you

To make the project worthwhile in terms of his own time : the marbury stein shop sells steins from all parts of the world. the owner of the shop clint marbury is thinking of

User Account

All Pages