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 $9.450 to carpet the consulting firm's newly leased office. The estimate was based on the following data: Estimated direct materials: 200 meters at $35 per meter $7,000 Estimated direct labor 16 hours at $20 per hour 320 Estimated factory overhead (75% of direct labor cost) 240 Total estimated costs $7,560 Markup (25% of production costs) 1,890 Total estimate $9,450 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 112 140 meters at $35 $4,900 114 68 meters at $35 2,380 Time Ticket No. Description Amount H10 10 hours at $20 $200 H11 10 hours at $20 200 Estimated direct materins: 200 meters at $35 per meter $7,000 Estimated direct labor: 16 hours at $20 per hour 320 Estimated factory overhead (75% of direct labor cost) 240 Total estimated costs $7,560 Markup (25% of production costs) 1,890 Total estimate $9,450 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 112 140 meters at $35 $4,900 114 68 meters at $35 2,380 Time Ticket No. Description Amount H10 10 hours at $20 $200 H11 10 hours at $20 200 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 Print Item Time Ticket No. Amount H10 Description 10 hours at $20 10 hours at $20 $200 H11 200 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 October 10 Job. No ESTIMATE Direct Materials Direct Labor Summary Amount Amount Amount 200 Meters at $35 16 Hours at $20 Direct Materials Direct Labor Factory Overhead Total $1 Total Total cost Check My Work 10 more Check My Work uses remaining