Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below.
| Job Cost Sheet | ||||||||||||
| Job Number: 1324 | ||||||||||||
| Date Started: 7/8/2018 | ||||||||||||
| Date Completed: 8/30/2018 | ||||||||||||
| Description: Drayna Pool | ||||||||||||
| Applied | ||||||||||||
| Direct Materials | Direct Labor | Manufacturing Overhead | ||||||||||
| Req. No | Amount | Ticket | Hours | Amount | Hours | Rate | Amount | |||||
| MR 3345 | $ | 1,600 | TT 335 | 27 | $ | 553.50 | ||||||
| MR 3372 | 930 | TT 340 | 46 | 943.00 | ||||||||
| MR 4251 | 1,290 | TT 385 | 25 | 512.50 | ||||||||
| MR 4263 | 1,770 | TT 425 | 31 | 635.50 | ||||||||
| MR 5236 | 2,000 | TT 445 | 34 | 697.00 | ||||||||
| $ | 7,590 | 163 | $ | 3,341.50 | ? | ? | ? | |||||
| Cost Summary | ||||||||||||
| Direct Materials Cost | $ | 7,590.00 | ||||||||||
| Direct Labor Cost | 3,341.50 | |||||||||||
| Applied Manufacturing Overhead | ? | |||||||||||
| Total Cost | ||||||||||||
The company applies overhead to jobs at a rate of $10.25 per direct labor hour.
Required:
1. Calculate how much overhead would be applied to
Job 1324.
2. Compute the total cost of Job 1324.
3. Assume the company bids its pools at total manufacturing cost plus an additional 28 percent. If actual costs were the same as estimated, determine how much revenue the company would report on the sale of Job 1324.
4. Calculate how much gross profit Aquazona made on the sale of the Drayna pool, before any adjustment for over- or underapplied manufacturing overhead.
Homework Answers
1. Calculate how much overhead would be applied to Job 1324.
Manufacturing overhead applied= Total direct labor hours*Rate
= 163*$10.25= $1670.75
2. Compute the total cost of Job 1324
| Direct materials | $7590 |
| Direct labor | 3341.50 |
| Manufacturing overhead applied | 1670.75 |
| Total cost of Job 1324 | $12602.25 |
3. Assume the company bids its pools at total manufacturing cost plus an additional 28 percent. If actual costs were the same as estimated, determine how much revenue the company would report on the sale of Job 1324.
Revenue= $12602.25*128%= $16130.88
4. Calculate how much gross profit Aquazona made on the sale of the Drayna pool, before any adjustment for over- or underapplied manufacturing overhead.
Gross profit= Revenue-Total cost
= $16130.88-12602.25= $3528.63
Add Answer to:
Aquazona Pool Company is a custom pool builder. The company
recently completed a pool for the...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Manufacturing Overhead Hours Rate Amount Direct Materials Reg. No Amount MR 3345 $1,500 MR 3372 1,000 MR 4251 1,250 MR 4263 1,750 MR 5236 2,000 $7,500 Direct Labor Ticket Hours Amount TT 335 31 $...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below. Assume the company bids its pools at total manufacturing cost plus an additional 36 percent. Job Numbers 1324 Date Startedt 7/5/2018 Date Completedi 8/30/2018 Description: Dayna Pool Direct Materials Manufacturing Overhead Hours Rate MR 3345 $1.500 PR 337 4263 MR 5236 Direct Materials Direct Labor Cost Applied Manufacturing Overhead Total Cost...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet on the following page. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2016 Date Completed: 8/30/2016 : Drayna Pool Direct Materials Direct Labor Manufacturing Overhead Hours Rate Amount Req. No Amount Ticket Hours Amount 37 $ 762.20 988.80 762.20 638.60 453.20 175 $3,605.00 MR 3345 1,590 MR 3372 1,040 51 1,320 MR...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet on the following page. Assume the company bids its pools at total manufacturing cost plus an additional 29 percent. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2016 Date Completed: 8/30/2016 Pool Applied Manufacturing Overhead Direct Materials Direct Labor Req. No Amount Ticket Hours Amount Hours Rate Amount MR 3345 MR 3372...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below.. Assume the company bids its pools at total manufacturing cost plus an additional 32 percent. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Manufacturing Overhead Hours Rate Amount Direct Materials Req. No Amount MR 3345 $1,430 MR 3372 1,020 MR 4251 1,200 MR...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below.. Assume the company bids its pools at total manufacturing cost plus an additional 37 percent. Job Cost Sheet Job Number : 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Manufacturing Overhead Direct Materials Direct Labor Req. No MR 3345 $1,500 Ticket Amount Amount Hours Amount Hours Rate тт...
E2-16 (Algo) Preparing Journal Entries [LO 2-S1) Aquazona Pool Company is a custom pool builder. The...
E2-16 (Algo) Preparing Journal Entries [LO 2-S1) Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below.. Assume the company bids its pools at total manufacturing cost plus an additional 20 percent. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Direct Materials Direct Labor Manufacturing Overhead Reg. No Amount Ticket Hours Amount Hours...
Please don't use hand writing because its hard for me to understand most hand writing. Please...
Please don't use hand writing because its hard for me to
understand most hand writing. Please type, etc. Please explain how
it works.
Thank you.
Aquazona Pool Company is a custom pool builder. The company recently completed a poor for the Brayna family (Job 1324) as summarized on the incomplete Job cost sheet below. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Manufacturing Overhead Hours Rate Amount Direct Materials Req. No Amount...
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Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Manufacturing Overhead Hours Rate Amount Direct Materials Reg. No Amount MR 3345 $1,500 MR 3372 1,000 MR 4251 1,250 MR 4263 1,750 MR 5236 2,000 $7,500 Direct Labor Ticket Hours Amount TT 335 31 $...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below. Assume the company bids its pools at total manufacturing cost plus an additional 36 percent. Job Numbers 1324 Date Startedt 7/5/2018 Date Completedi 8/30/2018 Description: Dayna Pool Direct Materials Manufacturing Overhead Hours Rate MR 3345 $1.500 PR 337 4263 MR 5236 Direct Materials Direct Labor Cost Applied Manufacturing Overhead Total Cost...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet on the following page. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2016 Date Completed: 8/30/2016 : Drayna Pool Direct Materials Direct Labor Manufacturing Overhead Hours Rate Amount Req. No Amount Ticket Hours Amount 37 $ 762.20 988.80 762.20 638.60 453.20 175 $3,605.00 MR 3345 1,590 MR 3372 1,040 51 1,320 MR...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet on the following page. Assume the company bids its pools at total manufacturing cost plus an additional 29 percent. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2016 Date Completed: 8/30/2016 Pool Applied Manufacturing Overhead Direct Materials Direct Labor Req. No Amount Ticket Hours Amount Hours Rate Amount MR 3345 MR 3372...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below.. Assume the company bids its pools at total manufacturing cost plus an additional 32 percent. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Manufacturing Overhead Hours Rate Amount Direct Materials Req. No Amount MR 3345 $1,430 MR 3372 1,020 MR 4251 1,200 MR...
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below.. Assume the company bids its pools at total manufacturing cost plus an additional 37 percent. Job Cost Sheet Job Number : 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Manufacturing Overhead Direct Materials Direct Labor Req. No MR 3345 $1,500 Ticket Amount Amount Hours Amount Hours Rate тт...
E2-16 (Algo) Preparing Journal Entries [LO 2-S1) Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below.. Assume the company bids its pools at total manufacturing cost plus an additional 20 percent. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Direct Materials Direct Labor Manufacturing Overhead Reg. No Amount Ticket Hours Amount Hours...
Please don't use hand writing because its hard for me to
understand most hand writing. Please type, etc. Please explain how
it works.
Thank you.
Aquazona Pool Company is a custom pool builder. The company recently completed a poor for the Brayna family (Job 1324) as summarized on the incomplete Job cost sheet below. Job Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Applied Manufacturing Overhead Hours Rate Amount Direct Materials Req. No Amount...
Help Geller Cabinets is a custom cabinet builder. They recently completed a set of kitchen cabinets (Job Number 12478), as summarized below: Job Number :12478 Date Started: 8/05/20x8 Date Completed: 8/25/20x8 Description: Butternut kitchen cabinets Applied Manufacturing Overhead Hours Rate Amount 4 Direct Materials Direct Labor Reg. No Amount Ticket Hours Amount 385 $ 390 128 16 $ 336 391 305 130 23 506 395 105 133 8 164 401 385 141 14 378 Total $1,185 Total 61 $1,384 Cost...
Green Cabinets is a custom cabinet builder. They recently completed a set of kitchen cabinets (Job Number 1478), as summarized below: Job Number: 1478 Date Started: 4/07/20x8 Date Completed: 4/22/20x8 Description: Cherry kitchen cabinets Applied Manufacturing Overhead Hours Rate Amount Direct Materials Req. NO Amount 385 $ 300 391 225 395 150 401 215 Direct Labor Ticket Hours Amount 128 16 $ 288 130 23 426 133 12 264 Total 5890 Total 51 $ 978 $ 890 Cost Summary Direct...
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