ob Order Cost Sheet

Stretch and Trim Carpet Company sells and installs commercial carpeting for office buildings. Stretch and Trim 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 May 9, Stretch and Trim gave Lunden Consulting an estimate of $18,044 to carpet the consulting firms newly leased office. The estimate was based on the following data:

Estimated direct materials:
400 meters at $32 per meter	$12,800
Estimated direct labor:
30 hours at $20 per hour	600
Estimated factory overhead (80% of direct labor cost)	480
Total estimated costs	$13,880
Markup (30% of production costs)	4,164
Total estimate	$18,044

On May 10, Lunden Consulting signed a purchase contract, and the carpet was delivered and installed on May 15.

The related materials requisitions and time tickets are summarized as follows:

Materials Requisition No.	Description	Amount
132	360 meters at $32	$11,520
134	50 meters at $32	1,600

Time Ticket No.	Description	Amount
H9	18 hours at $19	$342
H12	18 hours at $19	342

Required:

Enter amounts as positive numbers. Round answers to the nearest whole dollar.

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		Lunden Consulting			Date	May 9
					Date wanted	May 15
					Date completed	May 15
					Job. No.
ESTIMATE

Direct Materials

Direct Labor

Summary

Amount

Amount

Amount

400 meters at $32

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30 hours at $20

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Direct Materials

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Direct Labor

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Factory Overhead

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Total

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Total

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Total cost

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ACTUAL

Direct Materials

Direct Labor

Summary

Mat. Req. No.

Description

Amount

Time Ticket No.

Description

Amount

Item

Amount

132

360 meters at $32

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H9

18 hours at $19

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Direct Materials

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Direct Labor

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134

50 meters at $32

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H12

18 hours at $19

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Factory Overhead

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Total

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Total

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Total Cost

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