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, 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 $2,340 to carpet the consulting firm's newly leased office. The estimate was based on the following data: $ 960 Estimated direct materials: 30 sq.ft. at $32 per sq. ft. Estimated direct labor: 24 hours at $20 per hour Estimated factory overhead (75% of direct labor cost) 480 360 Total estimated costs $1,800 Markup (30% of production costs) 540 Total estimate $2,340 On October 3, Jackson Consulting signed a purchase contract, and the delivery and installation was completed on October 10. The related materials requisitions and time tickets are summarized as follows: Materials Requisition No. Description Amount 112 $480 15 sq.ft. at $32 19 sq.ft. at $32 608 Time Ticket No. Description Amount H10 $240 12 hours at $20 16 hours at $20 H11 320 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 30 sq. ft. at $32 24 Hours at $20 Direct Materials Direct Labor Factory Overhead Total Total cost ACTUAL Direct Materials Direct Labor Summary Mat. Reg. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 310 15 sq.ft. at $32 H10 12 Hours at $20 Direct Labor Factory Overhead 312 19 sq. it at $32 H11 16 Hours at $20 Total Total Cost