Answer:
a. Cost for each job
Southside $ 14,700
Oceanview $ 19,135
Rocky Heights $ 17,105
b. Contracts in process end of May is only Southside with a in process value of $ 14,700
Explanation:
Computation of cost per job
Southside Oceanview Rocky Heights Total
$ $ $ $
Direct Materials 5,450 7,635 6,480 19,565
Direct labor costs 4,810 5,980 5,525 16,315
Overhead costs <u>4,440</u> <u>5,520 </u> <u>5,100 </u> <u>15,060</u>
Total cost for each job 14,700 19,135 17,105
Direct labor hours per job are used to determine the overheads
No of hours 74 92 85
Predetermined Rate $ 60 $ 60 $ 60
Overhead costs $ 4,440 $ 5,520 $ 5,100