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Lounge Lizard Furniture started and finished Job 310 during August. The company's records show that the following direct materials were requisitioned for Job 310:
Lounge Lizard Furniture started and finished Job 310 during August. The company's records show that the following direct materials were requisitioned for Job 310: (Click the icon to view the direct materials for Job 310.) Labor time records show th (Click the icon to view Lounge Lizard allocates ma Read the requirements. More info Lumber: 47 units at $4 per unit Padding: 10 yards at $16 per yard Upholstery fabric: 31 yards at $27 per yard Print Done - More info Jeff Inglis: 16 hours at $14 per hour Max Kaufman: 22 hours at $22 per hour Print Done 708 - X Requirements 1. Compute the total amount of direct materials, direct labor, and manufacturing overhead that should be shown on Job 310's job cost record. 2. Job 310 consists of ten recliners. If each recliner sells for $725, what is the gross profit per recliner? Print Done Lounge Lizard Furniture started and finished Job 310 during August. The company's records show that the following direct materials were requisitioned for Job 310: (Click the icon to view the direct materials for Job 310.) Labor time records show the following employees (direct labor) worked on Job 310 (Click the icon to view the labor time records for Job 310) Lounge Lizard allocates manufacturing overhead at a rate of $15 per direct labor hour Read the requirements Direct Materials: Lumber Padding Total 47 units at $ per unit 188 10 yards at $ 16 per yard 160 Upholstery fabric 31 yards at $ 27 per yard 837 Total Direct Materials 1,185 Direct Labor Jeff Inglis 22 Max Kaufman Total Direct Labor 16 hours at $ hours at 5 38 hours 14 per hour 22 per hour 224 484 700 Manufacturing Overhead Allocated: 15 Per direct labor hour Total Job Cost 570 2.463 Requirement 2. Job 310 consists of ten recliners. If each recliner sells for $725, what is the gross profit per recliner? Identify the formula and then compute the gross proft. (Round your answers to the nearest whole number) Sales price (per unit) Total job cost (per unit) Gross profit (per unit)
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