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Tandoi Furniture started and finished Job 310 during November.

The company's records show that the following direct materials were requisitioned for Job 310:
Direct Materials for Job 310:
Lumber: 50 units at $5 per unit
Padding: 11 yards at $13 per yard
Upholstery fabric: 28 yards at $30 per yard

Labor time records show the following employees (direct labor) worked on Job 310:
Labor Time Records for Job 310:
Jeff Paradise: 11 hours at $9 per hour
John Maddock: 12 hours at $18 per hour

Tandoi allocates manufacturing overhead at a rate of $14 per direct labor hour.

Requirements:
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 $725, what is the gross profit per recliner?

Respuesta :

Answer: Direct materials $1,233, Direct Labour $315, Manufacturing overhead $1.63, gross profit $2,800.37

Explanation:

, $

Direct materials

Lumber 50units @ $5 = 250

Padding 11 yard @ $13 = 143

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Total. 1,233

-----------

Direct Labour

Jeff paradise 11 hour @ $9 per hour = 99

John Maddock 12 hour @ $18 per hour =216

--------

Total. 315

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Manufacturing overhead on the basis of direct labour hour

= manufacturing overhead rate = $14

Direct Labour = $315

Direct Labour rate = $9 + $18 = $27

315 × 14/27 = $1.63

To compute the Gross Profit

$

Sales ( 6 × $725) 4,350

Less: Direct materials. 1,233

-----------

Contribution. 3,117

Less:

Manufacturing overhead 1.63

Direct Labour. 315

-------

316.63

------------

Profit. 2,800.37

-----------------

akiran007

Answer:

The total amount of direct materials                $ 1233

The total amount of direct labor                         $ 315

The total amount of  manufacturing overhead   $ 322

Profit for 1 recliner= $ 2480/6= $ 413.33

Explanation:

Tandoi Furniture

Direct Materials for Job 310:

Lumber: 50 units at $5 per unit                         $ 250

Padding: 11 yards at $13 per yard                        $ 143

Upholstery fabric: 28 yards at $30 per yard     $ 840

The total amount of direct materials                $ 1233

Labor Time Records for Job 310:

Jeff Paradise: 11 hours at $9 per hour                  $ 99

John Maddock: 12 hours at $18 per hour            $ 216

The total amount of direct labor                         $ 315

Tandoi Job 310's Manufacturing Overhead

Manufacturing overhead   ($14 *23 hours)        $ 322

The total amount of  manufacturing overhead   $ 322

2. Total Maufacturing Costs for Job 310=    $ 1233+ $ 315 + $322= $ 1870

Sale Price of 6 recliners= 6 * $ 725= $ 4350

Profit Job 310= $ 4350- $ 1870= $ 2480

Profit for 1 recliner= $ 2480/6= $ 413.33

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