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I could really use some guidance in to figuring out this question! thanks in advance! Required information Excel Analytics 02-02 (Static) Job-Order Costing; Plantwide Predetermined
I could really use some guidance in to figuring out this question!
thanks in advance!
Required information Excel Analytics 02-02 (Static) Job-Order Costing; Plantwide Predetermined Overhead Rates (LO2-1, LO2- 2, LO2-3] (The following information applies to the questions displayed below.) Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor- hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs completed by the company during the year. Your goal is to complete the table shown below and comment on the insights that it provides: Job Applied Overhead ? 2 4 5 6 7 8 9 10 11 12 Sales $2,400 $5,400 $9,000 $1,450 $2,200 $7,000 $1,700 $1,600 $8,000 $4,100 $3,200 $2,800 Direct Materials ? ? 7 7 ? ? ? ? ? ? ? ? Direct Labor ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Total Job Cost ? ? 7 ? ? ? ? ? ? ? Gross Margin ? ? 7 7 ? ? ? 7 ? ? ? ? Click here to download the Excel template, which you will use to answer the questions that follow. Click here for a brief tutorial on PivotTables in Excel. Click here for a brief tutorial on VLOOKUP in Excel. Required: 1. Go to the tab titled Direct Materials Requisitions.": a. Using PivotTable, calculate the total direct materials cost for each of the 12 jobs. b. What is the total direct materials cost for Jobs 5 and 11? Job 5 Job 11 The total direct materials cost is Cost 175.00 188.00 155.00 305.00 160.00 168.00 170.00 210.00 148.00 192.00 1 Requisition # Department 2 MR1 Molding 3 MR2 Molding 1 MR3 Molding 5 MR4 Molding 5 MR5 Molding 7 MR6 Molding 3 MR7 Molding MR8 Molding 0 MR9 Molding 1 MR10 Molding 2 MR11 Molding 3 MR12 Molding 4 MR13 Fabrication 5 MR14 Fabrication 6 MR15 Fabrication 7 MR16 Fabrication 8 MR17 Fabrication 9 MR18 Fabrication 0 MR19 Fabrication 1 MR20 Fabrication 2 MR21 Fabrication 3 MR22 Fabrication 4 MR23 Fabrication 5 MR24 Fabrication 6 MR25 Assembly 7 MR26 Assembly 8 MR27 Assembly 9 MR28 Assembly O MR29 Assembly 1 MR30 Assembly 2 MR31 Assembly 3 MR32 Assembly 4 MR33 Assembly 5 Job 1 $ 3 $ 8 $ 2 $ 11 $ 4 $ 5 $ 12 $ 10 $ 9 $ 6 $ 7 $ 2 $ 4 $ 6 $ 11 $ 1 $ 3 $ 12 $ 5 $ 7 $ 9 $ 8 $ 10 $ 4 $ 7 $ 9 $ 12 $ 11 $ 2 $ 6 $ 10 $ 1 $ 185.00 144.00 140.00 138.00 135.00 129.00 198.00 134.00 142.00 136.00 105.00 131.00 132.00 119.00 118.00 80.00 112.00 116.00 113.00 115.00 112.00 114.00 169.00Step by Step Solution
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