Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs completed by the company during the year. Your goal is to complete the table shown below and comment on the insights that it provides:
Job | Sales | Direct Materials | Direct Labor | Applied Overhead | Total Job Cost | Gross Margin | |
1 | $ | 2,400 | ? | ? | ? | ? | ? |
2 | $ | 5,400 | ? | ? | ? | ? | ? |
3 | $ | 9,000 | ? | ? | ? | ? | ? |
4 | $ | 1,450 | ? | ? | ? | ? | ? |
5 | $ | 2,200 | ? | ? | ? | ? | ? |
6 | $ | 7,000 | ? | ? | ? | ? | ? |
7 | $ | 1,700 | ? | ? | ? | ? | ? |
8 | $ | 1,600 | ? | ? | ? | ? | ? |
9 | $ | 8,000 | ? | ? | ? | ? | ? |
10 | $ | 4,100 | ? | ? | ? | ? | ? |
11 | $ | 3,200 | ? | ? | ? | ? | ? |
12 | $ | 2,800 | ? | ? | ? | ? | ? |
Click here to download the Excel template, which you will use to answer the questions that follow.
Click here for a brief tutorial on PivotTables in Excel.
Click here for a brief tutorial on VLOOKUP in Excel.
Required:
7. Go to the tab titled “Waterfall Chart” and answer the following questions.
a. According to the chart, which jobs have the highest and lowest gross margins?
b. According to the chart, which of the following statements are true (you may select more than one answer). (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
The question could be answered
based on students knowledge to
interpret water fall chart.
Please refer to the attached image for the answer.
Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs...
Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs...
Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs...
Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs...
Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs...
Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs...
Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs...
Ch. 13 Homework O Proft margin O Debt ratio 12 5 2. What measure reflects the difference between current assets and current Sabilnies? O Gross margin O Day's sales uncolecterd O Retun on total assets O Working capital 3. Which of the following shont term liquidity satios measure how frequently a company collects ts accounts (You mey select more than one answer, Single click the box with the question mark to produce a check mark for a correct answer and...
Requirement 1: (a). Which of the following statements are true concerning the predetermined overhead rate when the direct labor-hour requirement for the Deluxe model dropped from 5 hours to 2 hours? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will...
When preparing a company’s flexible budget, which manufacturing cost(s) will change as the volume increases or decreases? (You may select more than one answer. Single click the box with a check mark for correct answers and double click to empty the box for the wrong answers.) Depreciation Variable Manufacturing Overhead Fixed Manufacturing Overhead Direct Materials Direct Labor Which manufacturing cost(s) will not change as the volume changes? (You may select more than one answer. Single click the box with a...