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 was completed on October 10. The related materials requisitions and time tickets are summarized as follows: 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 Customer Jackson Consulting Date October 1 Date wanted October 10 Date completed October 1 Job. No. ESTIMATE Direct Materials Direct Labor Amount Summary Amount Amount * $35 16 hours at $20 7.000 Direct Materials 320 7,000 Direct Labor 320 Factory Overhead 240 Total cost 320 7,560 irect Materials Total 7,000 ACTUAL Direct Labor Time Ticket Amount Description No. Summary Description Amount Item Amount 140 Meters at $35 Direct Materials $ 4,900 $ 7,280 MIO 10 Hours at $20 200 Direct Labor 400 58 Meters at 535 H11 10 Hours at $20 Factory Overhead 2.380 $ 7.280 200 s Total Total Cost $ 400