64 My Home X CengageNOWv2 | Onl x * Course Hero X Course Hero X PortalGuard Single Sig X Grades for Mandeep 5 X + X A v2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false TP AIM CHAPTER 16 7 eBook ? 1. EX. 16.02.ALGO Job Order Cost Sheet Stretch and Trim Carpet Company sells and installs commercial carpeting for office buildings. Stretch and Trim Carpet Company uses a job order cost 2. EX. 16.03.ALGO system. When a prospective customer asks for a price quote on a job, the estimated cost data are inserted on an unnumbered job cost sheet. If the offer is accepted, a number is assigned to the job, and the costs incurred are recorded in the usual manner on the job cost sheet. After the job is 3. EX. 16.05.ALGO completed, reasons for the variances between the estimated and actual costs are noted on the sheet. The data are then available to management in evaluating the efficiency of operations and in preparing quotes on future jobs. On May 9, Stretch and Trim gave Lunden Consulting an estimate of 4. EX. 16.06.ALGO $18,044 to carpet the consulting firm's newly leased office. The estimate was based on the following data: 5. EX. 16.08.ALGO Estimated direct materials: 400 meters at $32 per meter $12,800 6. EX. 16.10.ALGO Estimated direct labor: 7. EX. 16.13.ALGO 30 hours at $20 per hour 600 Estimated factory overhead (80% of direct labor cost) 480 8. PR. 16.01B.ALGO Total estimated costs $13,880 9. PR. 16-03B Markup (30% of production costs) 4,164 Total estimate $18,044 On May 10, Lunden Consulting signed a purchase contract, and the carpet was delivered and installed on May 15. The related materials requisitions and time tickets are summarized as follows: Materials Requisition No. Description Amount 132 360 meters at $32 $11,520 Progress: 9/9 items Check My Work 1 more Check My Work uses remaining. Previous Type here to search gi ? 12:58 PM 98F Sunny Ox 9/7/202264 My Home X CengageNOWv2 | Onl x * Course Hero X Course Hero X PortalGuard Single Sig X Grades for Mandeep S X + V X A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false To AIM CHAPTER 16 eBook ? 1. EX. 16.02.ALGO The related materials requisitions and time tickets are summarized as follows: Materials Requisition No. Description Amount 2. EX. 16.03.ALGO 132 360 meters at $32 $11,520 3. EX. 16.05.ALGO 134 50 meters at $32 1,600 Time Ticket No. Description Amount 4. EX. 16.06.ALGO H9 18 hours at $19 $342 5. EX. 16.08.ALGO H12 18 hours at $19 342 6. EX. 16.10.ALGO Required: 7. EX. 16.13.ALGO Enter amounts as positive numbers. Round answers to the nearest whole dollar. 1. Complete that portion of the job order cost sheet that would be prepared when the estimate is given to the customer. 8. PR. 16.01B.ALGO 2. Record the costs incurred, and complete the job order cost sheet. 9. PR. 16-03B JOB ORDER COST SHEET Customer Lunden Consulting Date May 9 Date wanted May 15 Date completed May 15 Job. No. ESTIMATE Check My Work Progress: 9/9 items 1 more Check My Work uses remaining. Previous Type here to search O 12:59 PM gi ? 98F Sunny Ox 9/7/202264 My Home X CengageNOWv2 | Onl x * Course Hero X Course Hero X PortalGuard Single Sig X Grades for Mandeep 5 X + X A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false TP AIM CHAPTER 16 eBook Customer Lunden Consulting Date May 9 ? 1. EX. 16.02.ALGO Date wanted May 15 2. EX. 16.03.ALGO Date completed May 15 Job. No. 3. EX. 16.05.ALGO ESTIMATE 4. EX. 16.06.ALGO Direct Materials Direct Labor Summ 5. EX. 16.08.ALGO Amount Amount 400 meters at $32 30 hours at $20 Direct Materials 6. EX. 16.10.ALGO Direct Labor 7. EX. 16.13.ALGO Factory Overhead 8. PR. 16.01B.ALGO Total Total Total cost ACTUAL 9. PR. 16-03B Direct Materials Direct Labor Summ Mat. Req. No. Description Amount Time Ticket No. Description Amount Item Direct Materials 132 360 meters at $32 HO 18 hours at $19 Direct Labor 134 50 meters at $32 H12 18 hours at $19 Factory Overhead T- 2-1 T -L -1 T- L-1 - - -2 Progress: 9/9 items Check My Work 1 more Check My Work uses remaining.