Case Construction Company, a three-year-old business, provides contracting and construction services to a variety of cli

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Case Construction Company A Three Year Old Business Provides Contracting And Construction Services To A Variety Of Cli 1 (44.37 KiB) Viewed 14 times

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Case Construction Company, a three-year-old business, provides contracting and construction services to a variety of clients. Given that each construction job is different from any other, company accountant Susan Kalagnanam decided that it was best to use a job- order costing system to allocate costs to the different jobs. She decided to use construction labour-hours as the basis for overhead allocation. In December 2020, she estimated the following amounts for the year 2021: Direct materials Construction labour Overhead $13,395,200 8,165,000 8,847,700 460,000 Construction labour-hours Kalagnanam recorded the following for the first quarter of 2021 for the three jobs that the company started and completed during the quarter: School Residential Cinema Direct materials $753,500 Construction labour-hours $904, 200 36,800 $1,356,300 16,100 62,100 Required: 1. Compute the cost of each job using the current system of cost allocation. (Round intermediate calculations to 2 decimal places.) School Residential Cinema Direct Material Construction Labour Overhead Total cost $ 0 S 0 $ 0
2. Jyler Cane, the company's CEO, recently returned from a semear on activity based costing and structed Kalagnanam to consider implementing the new system. As a first step, he instructed her to analyze the overhead costs for 2021 Through her research she w able to deve the following breakdown of the estated overhead costs for 2021 Nivvily Ajalta t Activity Foundation Laying Bullding construction Foundation Jaying hers Gestration Labour br 37,29, 2.385.0 7.75,000 7.17, s 310,000 Pelating Filiking hours INDIAN 400,000 She also documented the following activity on the three jobs during the first quarter of 2021 (in addition to the construction labour Sibel, Residential 41,100 47,329 42,00 1,5 Painting sing 31,000 1,0 www & Calculate the activity rates for each of the four activites (Round your answers to 2 decimal places) Activity Rate Foundation Butting constuctos Parong Feng per FEH per CLM per PH per FH
b. Calculate the total cost of each job using activity-based costing. (De not round Intermediate calculations and round your final enswers nearest so whole number) al cont