JANUARY INDIRECT COST ALLOCATION PRACTICE

1. Open January_Indirect_Costs_Practice.xlsx. Review P&L before, Hours, and Job information.
2. Complete the pale green cells on Allocation. Total the pool, total eligible hours, calculate the rate, and apply it to each job. Unapplied balance should be zero.
3. Complete the journal debits and credit on Journal entry. Date: January 31, 2026.
4. Download the separate answer key when ready to compare.
5. Use the blank Levvigo WIP template only after including the allocated costs in job costs. Inception-to-date costs go in P7:P9.

All company data is fictional. Do not post it to a live company. Excel files are manual workpapers, not QBO imports.
The WIP schedule tabs require Excel with FILTER support (Microsoft 365 or Excel 2021 or later).
