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Estimated direct materials: 30 meters at $34 per meter $1,020 Estimated direct labor: 16 hours at $20 per hour 320 Estimated factory overhead (75% of
Estimated direct materials: 30 meters at $34 per meter $1,020 Estimated direct labor: 16 hours at $20 per hour 320 Estimated factory overhead (75% of direct labor cost) 240 Total estimated costs $1,580 Markup (30% of production costs) 474 Total estimate $2,054 On October 3, Jackson Consulting signed a purchase contract, and the delivery and installation were completed on October 10. The related materials requisitions and time tickets are summarized as follows: Materials Requisition No. Description
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