Local Landscaping_job-order costing system

Local
Landscaping uses a job-order costing system to track the costs of its
landscaping projects. The company provides complete garden design and
landscaping services. The following table provides data concerning the three
landscaping projects that were in progress during May. There was no work in
process at the beginning of May. Actual overhead costs were $16,000 for May.
Overhead costs are applied to projects on the basis of designer-hours since
most of the overhead is related to the costs of the garden design studio. The
predetermined overhead rate is $45 per designer-hour. The Williams and Chandler
projects were completed in May; the Nguyen project was not completed by the end
of the month. No other jobs were in process during May

Williams

Chandler

Nguyen

Designer –
Hours

200

80

120

Direct
material cost

$4,800

$1,800

$3,600

Direct labor
cost

$2,400

$1,000

$1,500

Compute the amount of over head cost
that would have been charged to each project during May.
1- Prepare
a journal entry showing the completion of the Williams and Chandler project and
the transfer of costs to the completed project (i.e. finished goods) account.
2- What
is the balance in the work in process account at the end of the month
3- What
is the balance in the overhead account at the end of the month? What is this
balance called?