Enter amounts as positive numbers. Round answers to the nearest whole dollar. 1. Complete that portion of the job cost sheet that would be prepared when the estimate is given to the customer. 2. Record the costs incurred, and prepare a job cost sheet. What is the best explanation for the variances between actual costs and estimated costs. For this purpose, assume that the additional meters of material used in the job were spolled, the factory overhead rate has proven to be satisfactory, and an inexperienced employee performed the work. a. The direct materials cost exceeded the estimate by $40 because 2 mcjers of materials were spoiled. b. Management didn't provide enough direction to complete tasks on budget. c. The direct materials cost exceeded the estimate by $320 because 10 meters of materials were spoiled. The direct labor cost exceeded the estimate by $84 because an additional 6 hours of tabor were used by inexperienced employees who worked for $1 less per hour. The factory overhead cost exceeded the estimate because an additional $67 of factory overhead was allocated because of the increase in direct labor. d. Cannot be determined from the information provided. e. The direct labor cost exceeded the estimate by $130 because an additional 6 hours of labor were used by an inexperienced employee who worked for $1 less per hour: Select the correct answer from the above choices. Stretch and Trim Carpet Company sells and installs commercial carpeting for office buildings. Stretch and Trim Carpet Company uses job order costing. 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 completed, reasons for the variances between the estimated and actual costs are noted on the sheet. The data are then avaliable to management in evaluating the efficiency of operations and in preparing quotes on futu jobs. On May 9, Stretch and Trim gave Lunden Consulting an estimate of $18,044 to carpet the consulting firm's newly leased office. The estimate was based on the following data: On May 10, Lunden Consulting signed a purchase contract, and the carpet was delivered and instalied on May 15. The related materials requisitions and time records are summarized as follows