Riverwood Accounting Company has the following account in its cost records: Work in...
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Accounting
Riverwood Accounting Company has the following account in its cost records:
Work in ProcessJones Audit
Direct labor Services completed
Project overhead
Riverwood applies overhead to projects at a predetermined rate based on direct labor costs. Assume that Riverwood uses a job order costing system and that Jones Audit is the only job in process at the end of the period. Complete the following cost sheet for services still in process for Jones Audit.
Job Order Cost Sheet
Jones Audit Services in Process
Direct labor Answer
Project overhead Answer
Total cost Answer
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