Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Soucy Furniture started and finished Job 310 during December. The company's records show that the following direct materials were requisitioned for Job 310: Click
Soucy Furniture started and finished Job 310 during December. 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.) Requirement 1. Compute the total amount of direct materials, direct labor, and manufacturing overhead that should be shown on Job 310's job cost record. Job Cost Record for Job 310 Direct Materials: Lumber Padding Upholstery fabric Total Direct Materials Direct Labor: Vince Owens $ units at yards at yards at hours at hours at hours Elizabeth Dickerson Total Direct Labor Manufacturing Overhead Allocated: 14 Per direct labor hour per unit per yard per yard per hour per hour Labor time records show the following employees (direct labor) worked on Job 310: i (Click the icon to view the labor time records for Job 310.) Soucy allocates manufacturing overhead at a rate of $14 per direct labor hour. Read the requirements. Total Total Job Cost Requirement 2. Job 310 consists of three recliners. If each recliner sells for $775, what is the gross profit per recliner? Identify the formula and then compute the gross profit. (Round your answers to the nearest whole number.) Gross profit (per unit) Lumber: 50 units at $9 per unit Padding: 9 yards at $17 per yard Upholstery fabric: 29 yards at $30 per yard
Step by Step Solution
★★★★★
3.43 Rating (156 Votes )
There are 3 Steps involved in it
Step: 1
1 Job Cost Record for Job 310 Direct Material Lumber Padding Up...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