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 $3,024 to carpet the consulting firms newly leased office. The estimate was based on the following data:

Estimated direct materials:
30 meters at $30 per meter	$ 900
Estimated direct labor:
24 hours at $30 per hour	720
Estimated factory overhead (75% of direct labor cost)	540
Total estimated costs	$2,160
Markup (40% of production costs)	864
Total estimate	$3,024

On October 3, Jackson Consulting signed a purchase contract, and the delivery and installation were completed on October 10.

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

Materials Requisition No.	Description	Amount
112	15 meters at $30	$450
114	19 meters at $30	570

Time Ticket No.	Description	Amount
H10	12 hours at $30	$360
H11	16 hours at $30	480

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 10
					Job. No.
ESTIMATE

Direct Materials

Direct Labor

Summary

Amount

Amount

Amount

30 Meters at $30

$fill in the blank 6cac2ef65fa8fa4_1

24 Hours at $30

$fill in the blank 6cac2ef65fa8fa4_2

Direct Materials

$fill in the blank 6cac2ef65fa8fa4_3

Direct Labor

fill in the blank 6cac2ef65fa8fa4_4

Factory Overhead

fill in the blank 6cac2ef65fa8fa4_5

Total

$fill in the blank 6cac2ef65fa8fa4_6

Total

$fill in the blank 6cac2ef65fa8fa4_7

Total cost

$fill in the blank 6cac2ef65fa8fa4_8

ACTUAL

Direct Materials

Direct Labor

Summary

Mat. Req. No.

Description

Amount

Time Ticket No.

Description

Amount

Item

Amount

112

15 Meters at $30

$fill in the blank 6cac2ef65fa8fa4_9

H10

12 Hours at $30

$fill in the blank 6cac2ef65fa8fa4_10

Direct Materials

$fill in the blank 6cac2ef65fa8fa4_11

Direct Labor

fill in the blank 6cac2ef65fa8fa4_12

114

19 Meters at $30

fill in the blank 6cac2ef65fa8fa4_13

H11

16 Hours at $30

fill in the blank 6cac2ef65fa8fa4_14

Factory Overhead

fill in the blank 6cac2ef65fa8fa4_15

Total

$fill in the blank 6cac2ef65fa8fa4_16

Total

$fill in the blank 6cac2ef65fa8fa4_17

Total Cost

$fill in the blank 6cac2ef65fa8fa4_18