Hallmark Furniture Company refinishes and reupholsters Furniture, Hallmark Furniture une a job order coot system. When a prospective customer asks for a price quote on a job, the estimated cost data are inserted on an unnumbered job cout theet. If the offer it accepted a number is assigned to the job, and the costs incurred are recorded in the usual manner on the job cant heet. After the job is completed, reasons for the variances between the estimated and actual costs are noted on the sheet. The data are then available to management in lunting the efficiency of operations and in preparing quotes on future jobs on February 14, 2011, an estimate of $3,300 for reupholstering chair and couch was given to Millard Schmidt. The setimate was bazad on the following data Estimated direct materials 30 meters at 31 per meter $930 Estimated direct labor 840 630 20 hours at 5:30 per hour Estimated factory overhead (75 of direct labor cout) Total estimated costs Markup (40of production costs) 52.400 960 Total estimate 33,360 On February 17, the chair and couch vere picked up from the residence of Millard Schmidt, 315 White Oak Drive, Columbus, Georgia, with a commitment to return them on March 15. The job was completed on March 9 The related materials requisitions and time tickets are summarized as follows: Materials Requisition No. Description Amount 122 15 meters at 531 $465 120 19 meters at 531 509 Time Ticket No. Description Amount 7344 14 hours at $30 $420 T340 18 hours at $30 540 2. Assign number 02-019 to the job, record the actual costs incurred, and complete the job cost sheet JOB COST SHEET Customer Mad Schmidt Date February 14, 20: Address 315 White Oak Drive Date wanted March 15, 2011 Columbus, GA Date completed March 9, 2011 Item Reupholster couch and chair Job. No 02-019 ESTIMATE Direct Materials Direct Labor Summary Amount Amount Amount 30 Meters at 533 28 Hours at 30 Direct Materials Direct Labor Factory Overhead Tota Total Total cost ACTUAL Direct Materials Direct Labor Summary Mat. Reg. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 122 15 Meters at $33 7344 14 Hours at 5:30 Direct Labor 320 19 Meters at 531 T348 1 Hours at $10 Factory Overhund Total Total Total Cost Previous Next All work stved Emaior Submit Test for Grading Hallmark Furniture Company refinishes and reupholsters Furniture, Hallmark Furniture une a job order coot system. When a prospective customer asks for a price quote on a job, the estimated cost data are inserted on an unnumbered job cout theet. If the offer it accepted a number is assigned to the job, and the costs incurred are recorded in the usual manner on the job cant heet. After the job is completed, reasons for the variances between the estimated and actual costs are noted on the sheet. The data are then available to management in lunting the efficiency of operations and in preparing quotes on future jobs on February 14, 2011, an estimate of $3,300 for reupholstering chair and couch was given to Millard Schmidt. The setimate was bazad on the following data Estimated direct materials 30 meters at 31 per meter $930 Estimated direct labor 840 630 20 hours at 5:30 per hour Estimated factory overhead (75 of direct labor cout) Total estimated costs Markup (40of production costs) 52.400 960 Total estimate 33,360 On February 17, the chair and couch vere picked up from the residence of Millard Schmidt, 315 White Oak Drive, Columbus, Georgia, with a commitment to return them on March 15. The job was completed on March 9 The related materials requisitions and time tickets are summarized as follows: Materials Requisition No. Description Amount 122 15 meters at 531 $465 120 19 meters at 531 509 Time Ticket No. Description Amount 7344 14 hours at $30 $420 T340 18 hours at $30 540 2. Assign number 02-019 to the job, record the actual costs incurred, and complete the job cost sheet JOB COST SHEET Customer Mad Schmidt Date February 14, 20: Address 315 White Oak Drive Date wanted March 15, 2011 Columbus, GA Date completed March 9, 2011 Item Reupholster couch and chair Job. No 02-019 ESTIMATE Direct Materials Direct Labor Summary Amount Amount Amount 30 Meters at 533 28 Hours at 30 Direct Materials Direct Labor Factory Overhead Tota Total Total cost ACTUAL Direct Materials Direct Labor Summary Mat. Reg. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 122 15 Meters at $33 7344 14 Hours at 5:30 Direct Labor 320 19 Meters at 531 T348 1 Hours at $10 Factory Overhund Total Total Total Cost Previous Next All work stved Emaior Submit Test for Grading