a. Show labor and overhead cost flows through T-accounts. b. Prepare an income statement for the company for August.

During the month of July, Cambridge Company worked on three jobs. Data relating to these three jobs follow:     Job 60 Job 61 Job 62 Quantity  300 150 200 Units sold - 180 - Materials requisitioned $1,460 $1990 $2,000 Direct labour hour 200 220 400 Direct labour cost $3,000 $3,000 $3,300   Overhead is assigned on the basis of direct labour hours at a rate of $6.40 per direct labour hour. During July, Jobs 60 and 61 were completed and transferred to the Finished Goods Inventory. Job 61 was sold by the end of the month. Job 62 was the only unfinished job at the end of the month. Required:   1) Calculate the per-unit cost of Jobs 60 & 61 2)  Compute the ending balance in the work-in-process inventory account

Required information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Job 306 $ 28,000 21,000 10,500 132,000 102,000 Finished (sold) Job 307 $ 39,000 18,000 9,000 215,000 $ 115,000 152,000 104,000 P In process P Finished (unsold) Job 308 a. Raw Materials Inventory has a March 31 balance of $82,000. b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $385,000. c. Actual overhead costs incurred in April are indirect materials, $58,000; indirect labor, $27,000; factory rent, $38,000; factory utilities, $22,000; and factory equipment depreciation, $60,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold…

Cost accumulation; assigning costs to jobs The law firm of Taub & Lawson, LLP, currently has four cases in process. Following is information related to those cases as of the end of March: Case #1 Case #2 Case #3 Case #4 $864 $15,840 $6,660 $1,530 40 12 Direct material Direct labor hours Estimated court hours Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342. Total cost $ 90 65 70 120 15 40 a. Determine the total cost assigned to each case as of March 31. Case #1 Case #2 Case #3 Case #4 3,240 x $ 17,550 * $ 32,400 x $ 10,800 × b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72 had been spent in court. Taub & Lawson's policy is to charge clients actual costs plus 45 percent. What amount will be billed to the client involved in Case #3? Note: Round your final answer to the…