Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lounge Lizard Furniture started and finished Job 310 during November. The company's records show that the following direct materials were requisitioned for Job 310 i

image text in transcribed

image text in transcribed
Lounge Lizard Furniture started and finished Job 310 during November. The company's records show that the following direct materials were requisitioned for Job 310 i (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 $9 per direct labor hour. Read the requirements. 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: Total Requirements Lumber units at per unit Padding yards at per yard yards at per yard Upholstery fabric Total Direct Materials 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 eleven recliners. If each recliner sells for $875, what is the gross profit per recliner? Direct Labor: Holly Pulsifer hours at per hour Print Done Jarrod Patten hours at per hour Total Direct Labor hours Manufacturing Overhead Allocated: More Info $ 9 Per direct labor hour Total Job Cost Lumber: 49 units at $10 per unit Padding: 15 yards at $14 per yard Upholstery fabric: 32 yards at $27 per yard Print Done More Info Holly Pulsifer: 16 hours at $15 per hour Jarrod Patten: 19 hours at $20 per hour Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managing The Audit Function A Corporate Audit Department Procedures Guide

Authors: Michael P. Cangemi, Tommie W. Singleton

3rd Edition

0471281190, 978-0471281191

More Books

Students also viewed these Accounting questions

Question

What is the preferred personality?

Answered: 1 week ago

Question

What is the relationship between humans?

Answered: 1 week ago