Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 13 Aug 2017 My Price 11.00

Upholstery fabric

PART A: Determine the cost of a job: E-Z Boy started and finished Job 310 during April. The company's records show that the following direct materials were requisitioned for Job 310: Lumber: 50 units @ $9.00 per unit Padding: 15 yards @ $20.00 per yard Upholstery fabric: 30 yards @ $25.00 per yard Labor time records show the following employees (direct labor) worked on Job 310: Vince Owens: 10 hours at $10 per hour Patrick Erin: 15 hours at $15 per hour E-Z Boy allocates manufacturing overhead at a rate of $9 per direct labor hour. Requirements: Compute the total amount of direct materials, direct labor and manufacturing overhead that should be shown on Job 310's job cost record. Job 310 consists of five recliners. If each recliner sells for $600, what is the gross profit per recliner? The attachment provides you a chart to help complete the problem. You may attach the completed chart to demonstrate your work, but please provide the answer: Gross profit per recliner.

PART B: Using activity-based costing, what are indirect costs allocated while direct costs are not allocated? Discuss the difference between "allocate" and "assign".

Based on the above question Fill the Following table...

Job Cost Record for Job #310

   

Total per 1 unit

Direct Materials:

    

Lumber: 50 units @ $9.00 per unit

$ 450

  

Padding: 15 yards at $20 per unit

    

Upholstery fabric: 30 yards at $25 per yard

    
     

Direct Labor:

    

Vince Owens

    

Patrick Erin

    

Total Direct Labor

    
     

Manufacturing Overhead Allocated

    

$$9 per direct labor hour (calculated above)

    
     

Total Job Cost

    

 

 

Sales Price per recliner $ 600.00

Cost per recliner (Total job Cost divided by 5 recliners) _____________

Gross profit per recliner $ ____________

 

You may attach this worksheet for the problem and enter the Gross profit per recliner as a number in the assignment section.

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Aug 2017 11:08 PM My Price 11.00

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