Heurion Company is a job-order costing firm that uses a plantwide overhead rate based on direct labor hours. Estimated information for the year is as follows:
Direct labor hours ……. 100,000
Heurion worked on five jobs in July. Data are as follows:
By July 31, Jobs 741 and 743 were completed and sold. The remaining jobs were in process.
2. Prepare job-order cost sheets for each job showing all costs through July 31.
3. Calculate the balance in Work in Process on July 31.
4. Calculate Cost of Goods Sold for July.