Requirements:
1. |
Compute the total amount of direct materials, direct labor, and manufacturing overhead that should be shown on Job 310's job cost record. |
2. |
Job 310 consists of four recliners. If each recliner sells for $750, what is the gross profit per recliner? |
Direct materials for job 310:
Lumber: 47 units at $10 per unit
Padding: 14 yards at $20 per yard
Upholstery fabric: 28 yards at $26 per yard
Labor time records for Job 310:
Penny Rawls: 11 hours at $9 per hour
John Maddock: 16 hours at $21 per hour
1) | ||||||
Direct Materials | ||||||
Lumber | 47 | units at | $ 10 | per unit | $ 470 | |
Padding | 14 | yard at | $ 20 | per yard | $ 280 | |
Upholstery fabrics | 28 | yards at | $ 26 | per yard | $ 728 | |
Total direct materials | $ 1,478 | |||||
Direct Labors | ||||||
Penny Rawls | 11 | hours at | 9 | per hour | $ 99 | |
John Medlock | 16 | hours at | 21 | per hour | $ 336 | |
Total direct labor | 27 | hours | $ 435 | |||
Manufacturing Overhead allocated | ||||||
$ 8 | Per direct labor hour | $ 216 | ||||
Total Job Cost | $ 2,129 | |||||
2) | Gross perofit per recliner = ($750*4) -$2129 | |||||
=$871 | ||||||
Please upvote. | ||||||
Requirements: 1. Compute the total amount of direct materials, direct labor, and manufacturing overhead that should...
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