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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 Cost Sheet Job Number: 1324 Date Started: 7/8/2018 Date Completed: 8/30/2018 Description: Drayna Pool Direct Materials Req. No MR 3345 MR 3372 MR 4251 Amount Ticket Direct Labor Hours Manufacturing Overhead $1,500 TT 335 31 Amount $ 600 Hours Applied Rate Amount 1,000 TT 340 39 800 1,250 TT 385 31 600 MR 4263 1,750 TT 425) 34 700 MR 5236 2,000 TT 445 23 500 $7,500 158 $3,200 Cost Summary Direct Labor Cost Direct Materials Cost Applied Manufacturing Overhead Total Cost $7,500 3,200 The company applies overhead to jobs at a rate of $15 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 30 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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