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Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below. Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Direct Materials: Ticket Job Cost Sheet Direct Labor Hours Applied Manufacturing Overhead Amount Req. No Amount Amount Hours Rate MR 3345 $1,440 TT 335 25 $ 510.00 MR 3372 910 TT 340 41 836.40 MR 4251 MR 4263 1,340 TT 385. 35 714.00 1,690 TT 425 33 673.20 MR 5236 2,060 TT 445 30 612.00 $7,440 164 $3,345.60 ? Cost Summary Direct Materials Cost Direct Labor Cost Applied Manufacturing Overhead Total Cost $7,440.00 3,345.60 ? The company applies overhead to jobs at a rate of $10.20 per direct labor hour. Required: 1. Calculate how much overhead would be applied to Job 1324. 2. Compute the total cost of Job 1324. 3. Assume the company bids its pools at total manufacturing cost plus an additional 29 percent. If actual costs were the same as estimated, determine how much revenue the company would report on the sale of Job 1324. 4. Calculate how much gross profit Aquazona made on the sale of the Drayna pool, before any adjustment for over- or underapplied manufacturing overhead
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