This exercise continues the Sherman Lawn Service, Inc., situation from Exercise 15-35 of...

This exercise continues the Sherman Lawn Service, Inc., situation from Exercise 15-35 of Chapter 15. Sherman completed a special landscaping job for Feimer’s Fancy Fonts. Sherman collected the following data about the job:

Requirements

1. Sherman allocates overhead costs based on 40% of Direct Labor cost. What is the total cost of the Feimer job?

2. If the price Feimer paid for the job is $2,500, what is the profit or loss on the job?