Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family ( Job 1 3 2 4 )

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 SheetJob Number: 1324Date Started: July 8Date Completed: September 9Description: Drayna PoolDirect MaterialsDirect LaborApplied Manufacturing OverheadRequisition NumberAmountTicketHoursAmountHoursRateAmountMR 3345$ 1,530TT 33529$ 553.90 MR 33721,090TT 34031592.10 MR 42511,260TT 38532611.20 MR 42631,760TT 42530573.00 MR 52362,030TT 44517324.70 $ 7,670139$ 2,654.90???Cost SummaryDirect Materials Cost$ 7,670.00 Direct Labor Cost2,654.90 Applied Manufacturing Overhead? Total Cost The company applies overhead to jobs at a rate of $9.55 per direct labor hour.Required:Calculate how much overhead would be applied to Job 1324.Compute the total cost of Job 1324.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.Calculate how much gross profit Aquazona made on the sale of the Drayna pool, before any adjustment for over- or underapplied manufacturing overhead.

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_2

Step: 3

blur-text-image_3

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

Financial Statement Analysis and Security Valuation

Authors: Stephen Penman

5th edition

78025311, 978-0078025310

More Books

Students also viewed these Accounting questions

Question

Different formulas for mathematical core areas.

Answered: 1 week ago