Question

Goldstein Furniture started and finished Job 310 during October. The company's records show that the following direct materials were requisitioned for Job 310: Labor time records show the following employees (direct labor) worked on Job 310 (Click the icon to view the labor time records for Job 310.) Goldstein allocates manufacturing overhead at a rate of $17 par direct labor hour. Read the requirements (Click the icon to view the direct materials for Job 310.) Requirement 1. Compute the total amount of direct materials, direct labor, and manufacturing overhead that should be shown on Job 310's job cost reoord. More Info Job Cost Record for Job 310 More Info X Direct Materials: Lumber Padding Upholslery labric Total 47 units at 10 per unit 12 yards al21 per yard 31 yardsa25 par yard 470 Penny Ravis: 14 hours at $16 per hour Kevin Ohlrmstead: 14 hours al $19 per hour Lumber: AY unis at S10 per unit Padkding: 12 yards al $21 par yard Upholslery labric: 31 yards at S25 per yard S 1,497 Total Direct Materials Direct Labor Penny Raws Kevin Ohlmstcad Print Done 14 hours at 16 por hour$ 221 19per hour Print Dane 288 hours at 28 hours Tolal Direct Labor 490 476 17 Por direct labor hour S 2,483 Tolal Job Cost Requirement 2. Job 310 consists of six rocliners. If oach roclinor sells for $700, what is the gross proft per rocliner? Idontify the fomula and then compute the gross profit. (Round your answers to the nearost whole numbor.) Total job cost (per unit)Gross profit (per unit) 4200 2463 1737 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 six recliners. If each recliner sells for $700, what is the gross profit per recliner? Choose from any list or enter any number in the input fields and then click Check Answer. Print Done

Answer 1

Requirement 1
Job cost record for job 310
Direct materials:						Total
Lumber	47	units at	$ 10	per unit	$ 470
Padding	12	Yards at	$ 21	per yard	$ 252
Upholstery fabric	31	Yards at	$ 25	per yard	$ 775
Total Direct materials:						$ 1,497
Direct Labors:
Ponny Rawls	14	hours at	$ 16	per hour	$ 224
Kevin ohlmstead	14	hours at	$ 19	per hour	$ 266
Total Direct Labors:						$     490
Manufacturing Overheads allocated:
$17 per direct Labor hours [(14+14) X $17]						$     476
Total Job cost						$ 2,463
Requirement 2
Sales per unit	-	Total Job cost (per unit)	=	Gross Profit (per unit)
$                                                                           700	-	$                                      411	=	$       290
Total Job cost (per unit) = $2463 / 6 recliners