Shown below are the job cost-related accounts for the law firm of Clark, Garcia, and Morton and their manufacturing equivalent
Law Firm Accounts
Supplies
Salaries Payable
Operating Overhead
Work in Process
Cost of Completed Work
Manufacturing Company Accounts
Raw Materials
Payroll Liabilities
Manufacturing Overhead
Work in Process Inventory
Finished Goods Inventory
Cost data for the month of March follow.
1. Purchased supplies on account $1,550.
2. Issued supplies of $1,400 (60% direct and 40% indirect).
3. Time cards for the month indicated labour costs of $61,300 (80% direct and 20% indirect).
4. Operating overhead costs incurred for cash totalled $40,400.
