Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

16 Required information (The following information applies to the questions displayed below] Ozuna Company uses a job-order costing system with a plantwide predetermined overhead

image text in transcribedimage text in transcribed

16 Required information (The following information applies to the questions displayed below] 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 Cost Total Job Gross Margin $2,400 ? 7 ? 7 2 $5,400 ? ? 7 3 $9,000 7 ? 7 2 4 $1,450 7 7 7 7 ? 5 $2,200 7 ? 7 ? 6. $7,000 7 ? ? 7 $1,700 ? ? 7 ces $1,600 ? ? ? 9 $8,000 ? 7 7 18 $4,100 11 $3,200 7 7 7 12 $2,800 7 ? ? 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 2. Go to the tab titled "Direct Labor Summary a. Using PivotTable, calculate the total direct labor cost and total direct labor-hours for each of the 12 jobs. b. What is the total direct labor cost for Jobs 3 and 10? c. What are the total direct labor-hours for Jobs 3 and 10? Complete this question by entering your answers in the tabs below. Reg 201 Req 2C What is the total direct labor cost for Jobs 3 and 107 The total direct labor cost is Job 31 Job 10 Req 20 >>

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: James A. Hall

8th edition

2901111972140, 1111972141, 978-1111972141

More Books

Students also viewed these Accounting questions

Question

What is internal control? Discuss.

Answered: 1 week ago

Question

What other requirements do they have for admission?

Answered: 1 week ago