Question
Direct Mateirals- $10,000 on this job Direct Labor- 400 hours at $10.00 Manufacturing Overhead- Estimated Rate- $15.00 per Direct Labor Hour Requirement 1 : Students
Direct Mateirals- $10,000 on this job
Direct Labor- 400 hours at $10.00
Manufacturing Overhead- Estimated Rate- $15.00 per Direct Labor Hour
Requirement 1: Students will create a Job Order Costing spreadsheet in Excel (with formulas) using the data presented in the video.
Requirement 2: Using the Excel spreadsheet, complete a Job Order Costing spreadsheet for the following two customers:
John Smith ordered five tree houses
Jane Doe ordered three tree houses
Requirement 3: Questions to be answered:
1. What is the total cost for John Smiths order?
2. What is the total cost for Jane Does order?
3. Explain what a job costing system is.
4. List at least 6 items that is included in Direct Materials (items needed to build the tree house).
5. List at least 3 items that is included in Manufacturing Overhead (items needed by employees so they can build the tree house).
ABC Tree Houses Company | |||||
Job Costing Sheet | |||||
Job Number: | |||||
Customer Name: | |||||
Number of Tree Houses | Direct Materials Costs (per tree house): | Direct Labor Costs (per tree house): | Manufacturing Overhead Costs (per tree house): | ||
1 | |||||
2 | |||||
3 | |||||
4 | |||||
5 | |||||
Total Costs: | |||||
Cost Summary (for entire order): | Total Amount: | ||||
Direct Materials Costs: | |||||
Direct Labor Costs: | |||||
Manufacturing Overhead Costs: | |||||
Total Cost of Order: | |||||
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