Job Order Cost Sheet Remnant Carpet Company sells and installs commercial carpeting for office buildings. Remnant Carpet Company 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 October 1, Remnant Carpet Company gave Jackson Consulting an estimate of $2,912 to carpet the consulting firm's newly leased office. The estimate was based on the following data: Estimated direct materials: 40 meters at $35 per meter $ $ 1,400 Estimated direct labor: 480 360 16 hours at $30 per hour Estimated factory overhead (75% of direct labor cost) Total estimated costs Markup (30% of production costs) $2.240 672 Total estimate $2.912 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 Amount 112 $700 20 meters at $35 24 meters at $35 114 840 Time Ticket No. Amount H10 Description 8 8 hours at $30 12 hours at $30 $240 H11 360 Required: Enter amounts as positive numbers. 1. Complete that portion of the job order cost sheet that would be prepared when the estimate is given to the customer. 2. Record the costs incurred, and complete the job order cost sheet. JOB ORDER COST SHEET Customer Jackson Consulting Date October 1 October 10 Date wanted Date completed Job. No. October 10 ESTIMATE Direct Materials Direct Labor Summary Amount Amount Amount 40 Meters at $35 16 Hours at $30 Direct Materials Direct Labor Factory Overhead Total Total Total cost ACTUAL Direct Materials Direct Labor Summary Mat. Reg. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 112 20 Meters at $35 H10 8 Hours at 530 Direct Labor 114 24 Meters at $35 H11 12 Hours at $30 Factory Overhead Total Total Total Cost