UNSURE Cost Accou On August 1, Cairle Company’s work-in-process inventory consisted of three jobs

| April 14, 2018

Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost, Unit CostOn August 1, Cairle Company’s work-in-process inventory consisted of three jobs with the following costs:During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows:Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold.Required:1. Calculate the predetermined overhead rate based on direct labor cost.% of direct labor cost.2. Calculate the ending balance for each job as of August 31.Ending BalanceJob 70 $Job 71 $Job 72 $Job 73 $Job 74 $Job 75 $Job 76 $3. Calculate the ending balance of Work in Process as of August 31.$4. Calculate the cost of goods sold for August.$5. Assuming that Cairle prices its jobs at cost plus 20 percent, calculate Cairle’s sales revenue for August

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