Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Shea Furniture started and finished Job 310 during August. The company's records show that the following direct materials were requisitioned for Job 310: (Click the
Shea Furniture started and finished Job 310 during August. The company's records show that the following direct materials were requisitioned for Job 310: (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.) Shea allocates manufacturing overhead at a rate of $14 per direct labor hour. Read the requirements. 13 per hour $ 156 Direct Labor: Jeff Inglis 12 hours at $ Mark Frizzell 15 hours at $ Total Direct Labor Manufacturing Overhead Allocated: 225 15 per hour 27 hours 381 $ 14 Per direct labor hour 378 $ 2.069 Total Job Cost Requirement 2. Job 310 consists of five recliners. If each recliner sells for $800, what is the gross profit per recliner? Identify the formula and then compute the gross profit. (Round your answers to the nearest whole number.) = Sales price (per unit) 800 Total job cost (per unit) 149 Gross profit (per unit) 651 Choose from any list or enter any number in the input fields and then click Check Answer. ? All parts showing Clear All Final Check Shea Furniture started and finished Job 310 during August. The company's records show that the following direct materials were requisitioned for Job 310: (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.) Shea allocates manufacturing overhead at a rate of $14 per direct labor hour. Read the requirements. 13 per hour $ 156 Direct Labor: Jeff Inglis 12 hours at $ Mark Frizzell 15 hours at $ Total Direct Labor Manufacturing Overhead Allocated: 225 15 per hour 27 hours 381 $ 14 Per direct labor hour 378 $ 2.069 Total Job Cost Requirement 2. Job 310 consists of five recliners. If each recliner sells for $800, what is the gross profit per recliner? Identify the formula and then compute the gross profit. (Round your answers to the nearest whole number.) = Sales price (per unit) 800 Total job cost (per unit) 149 Gross profit (per unit) 651 Choose from any list or enter any number in the input fields and then click Check Answer. ? All parts showing Clear All Final Check
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started