Required information (The following information applies to the questions displayed below.] Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor- hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs completed by the company during the year. Your goal is to complete the table shown below and comment on the insights that it provides: Job 1 2 3 4 5 6 7 8 9 10 11 12 Sales $2,400 $5,400 $9,000 $1,450 $2,200 $7,000 $1,700 $1,600 $8,000 $4,100 $3,200 $2,800 Direct Materials ? ? 2 2 2 2 2 ? 2 2 ? 2 Direct Labor ? 2 2 2 2 2 2 2 ? 2 ? ? Applied Overhead 2 ? 2 2 2 2 2 ? Total Job Cost ? 2 7 ? 2 7 ? 2 2 2 ? 2 Gross Margin 2 2 2 2 ? 2 2 2 2 ? 2 2 2 2 c. What is the gross margin Jobs 1 and 8? Complete this question by entering your answers in the tabs below. Reg 6B Req 6C What is the total cost of Jobs 3 and 127 Job 3 Job 12 The total cost is Complete this question by entering your answers in the tabs below. Req 6B Req 6C What is the gross margin Jobs 1 and 8? Job 1 Job 8 The gross margin is Direct Materials Applied Overhead Direct Labor Total Job Cost Gross Margin HNM 4 6 + 7 Job Sales 1 $ 2,400.00 2 $ 5,400.00 3 $ 9,000.00 4 $ 1,450.00 5 $ 2,200.00 6 $ 7,000.00 7 $ 1,700.00 8 $ 1,600.00 9 $ 8,000.00 10 $4,100.00 11 $ 3,200.00 12 $ 2,800.00 8 9 10 11 12 13 14 15 16 Required information (The following information applies to the questions displayed below.] Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor- hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs completed by the company during the year. Your goal is to complete the table shown below and comment on the insights that it provides: Job 1 2 3 4 5 6 7 8 9 10 11 12 Sales $2,400 $5,400 $9,000 $1,450 $2,200 $7,000 $1,700 $1,600 $8,000 $4,100 $3,200 $2,800 Direct Materials ? ? 2 2 2 2 2 ? 2 2 ? 2 Direct Labor ? 2 2 2 2 2 2 2 ? 2 ? ? Applied Overhead 2 ? 2 2 2 2 2 ? Total Job Cost ? 2 7 ? 2 7 ? 2 2 2 ? 2 Gross Margin 2 2 2 2 ? 2 2 2 2 ? 2 2 2 2 c. What is the gross margin Jobs 1 and 8? Complete this question by entering your answers in the tabs below. Reg 6B Req 6C What is the total cost of Jobs 3 and 127 Job 3 Job 12 The total cost is Complete this question by entering your answers in the tabs below. Req 6B Req 6C What is the gross margin Jobs 1 and 8? Job 1 Job 8 The gross margin is Direct Materials Applied Overhead Direct Labor Total Job Cost Gross Margin HNM 4 6 + 7 Job Sales 1 $ 2,400.00 2 $ 5,400.00 3 $ 9,000.00 4 $ 1,450.00 5 $ 2,200.00 6 $ 7,000.00 7 $ 1,700.00 8 $ 1,600.00 9 $ 8,000.00 10 $4,100.00 11 $ 3,200.00 12 $ 2,800.00 8 9 10 11 12 13 14 15 16
