Lounge Lizard started and fi nished Job 310 during August. The company's records show that the following
Question:
Lumber: 47 units at $10 per unit
Padding: 13 yards at $18 per yard
Upholstery fabric: 31 yards at $27 per yard.
Labor time records show the following employees (direct labor) worked on Job 310:
Jake Schaeffer: 10 hours at $11 per hour
Jon Augustine: 18 hours at $17 per hour.
Lounge Lizard allocates manufacturing overhead at a rate of $9 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 seven recliners. If each recliner sells for $650, what is the gross profi t per recliner?
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Step by Step Answer:
Req 1 Job Cost Record for Job 310 Direct Materials ...View the full answer
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