Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Labor time records show the following employees (direct labor) worked on Job310: Lounge Lizard allocates manufacturing overhead at a rate of $9 per direct labor
Labor time records show the following employees (direct labor) worked on Job310:
Lounge Lizard allocates manufacturing overhead at a rate of $9 per direct labor hour.
Job310
consists of
twelve
recliners. If each recliner sells for
$675,
what is the gross profit per recliner?
Penny Rawls: 9 hours at $14 per hour Charles Roche: 14 hours at $21 per hour Requirement 1. Compute the total amount of direct materials, direct labor, and manufacturing overhead that should be shown on Job 310 's job cost record. Job Cost Record for Job 310 Direct Materials: Lumber Padding Upholstery fabric Total Direct Materials Direct Labor: Penny Rawls Charles Roche Total Direct Labor units at yards at yards at hours at hours at hours Manufacturing Overhead Allocated: $ 9 Per direct labor hour Total Job Cost Total per unit per yard per yard per hour per hour Lounge Lizard Furniture started and finished Job 310 during March. The company's records show that the following direct materials were requisitioned for Job 310: Lumber: 48 units at $11 per unit Padding: 15 yards at $21 per yard Upholstery fabric: 29 yards at $23 per yardStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started