Job Order Cost Sheet

Carlin Furniture Company refinishes and reupholsters furniture. Carlin uses a job order cost system. 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 available to management in evaluating the efficiency of operations and in preparing quotes on future jobs. On July 6, 20Y1, an estimate of $2,756 for reupholstering a sofa and loveseat was given to Justin Flannigan. The estimate was based on the following data:

Estimated direct materials:
40 meters at $32 per meter	$ 1,280
Estimated direct labor:
24 hours at $20 per hour	480
Estimated factory overhead (75% of direct labor cost)	360
Total estimated costs	$2,120
Markup (30% of production costs)	636
Total estimate	$2,756

On July 10, the sofa and loveseat were picked up from the residence of Justin Flannigan, 310 Suzuki Drive, Lubbock, TX, with a commitment to return it on September 7. The job was completed on September 3.

The related materials requisitions and time tickets are summarized as follows:

Materials Requisition No.	Description	Amount
310	20 meters at $32	$640
312	24 meters at $32	768

Time Ticket No.	Description	Amount
H50	12 hours at $20	$240
H55	16 hours at $20	320

Instructions:

1. Complete the portion of the job order cost sheet that would be prepared when the estimate is given to the customer. Assign number 12-211 to the job, record the costs incurred, and complete the job order cost sheet.

2. Assign number 12-211 to the job, record the actual costs incurred, and complete the job order cost sheet.

JOB ORDER COST SHEET

Customer		Justin Flannigan			Date	July 6, 20Y1
Address		310 Suzuki Drive			Date wanted	Sept. 7, 20Y1
		Lubbock, TX			Date completed	Sept. 3, 20Y1
Item		Reupholster Sofa and Loveseat			Job. No.	12-211
ESTIMATE

Direct Materials

Direct Labor

Summary

Amount

Amount

Amount

40 Meters at $32

24 Hours at $20

Direct Materials

Direct Labor

Factory Overhead

Total

Total

Total cost

ACTUAL

Direct Materials

Direct Labor

Summary

Mat. Req. No.

Description

Amount

Time Ticket No.

Description

Amount

Item

Amount

310

20 Meters at $32

H50

12 Hours at $20

Direct Materials

Direct Labor

312

24 Meters at $32

H55

16 Hours at $20

Factory Overhead

Total

Total

Total Cost