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# Problem 5-42 Name: Fill in the shaded cells in columns B, C, E, G, and I as appropriate. Enter amounts to be subtracted as negatives. An asterisk (*)...

"Birminham Contractors uses a job order costing system. In May 2010, the company made \$3,300,000 bid to build a pedestrian overpass over the beach highway at Gulf Shores, Alabama. Birminham Contractors won the bid and assigned #515 to the project. Its completion date was set at December 15, 2010. The following costs were estimated for completion of the overpass: \$1,240,000 for direct material, \$670,000 for direct labor and \$402,000 for overhead.

During July, work began on job #515; direct material cost assigned to job #515 was \$121,800, and direct labor cost associated with it was \$175,040. The firm uses a pre-determined OH rate of 60% of direct labor cost. Birminham Contractors also worked on several other jobs during July and incurred the following costs:

Direct Materials (including job #515) issued \$579,300
Direct Labor (including job #515) accrued \$84,000
Indirect Labor \$55,800
Administrative salaries and wages accrued \$39,600
Depreciation on construction equipment \$26,400
Depreciation on office equipment \$7,800
Client entertainment (on accounts payable) \$11,100
Advertising for firm (paid in cash) \$6,600
Indirect Material (from supplies inventory) \$ 18,600
Misc. expenses (design-related; to be paid in the following month) \$10,200
Accrued Utilities (for office, \$1,800; for construction, \$5,400) \$7,200

During July, Birminham Contractors completed several jobs that had been in process before the beginning of the month. These completed jobs sold for
\$1,224,000 and payment will be made to the company in August. The related job cost sheets showed costs associated with those jobs of \$829,000. At the beginning of July, Birminham Contractors had Work in Process Inventory \$871,800."

Problem 5-42 Name: Fill in the shaded cells in columns B, C, E, G, and I as appropriate. Enter amounts to be
subtracted as negatives. An asterisk (*) will appear if you have entered incorrect...

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