The Talbott Company has received an order (#324) for 100 widgets. On January 20

Question

The Talbott Company has received an order (#324) for 100 widgets. On January 20 the shop supervisor requisitioned 100 units of part 503 at a cost of $5 per unit and 500 units part 456 at a cost of $3 per unit to begin work on the 100 widgets. On the same day 20 hours of direct labor at $20 per hour are used to work on the widgets. On January 21, 200 units of part 543 at $6 per unit are requisitioned and 10 hours of direct labor at $15 per hour are performed on the 100 units of widgets to complete the job. Overhead is allocated to the job based on $5 per direct labor hour.
Make a job order cost sheet for the 100 widgets.

Explanation / Answer

The Talbott Company Job Order Cost Sheet Date Started 20-Jan Job Number #324 Date Completed 21-Jan Raw Materials Direct Labore Date Type Quantity Amount Direct Labor Hours Date Type Hours Amo 20-Jan 503 100 500.00 20 20-Jan Direct Labor 20 400.00 20-Jan 456 500 1,500.00 10 21-Jan Direct Labor 10 150.00 21-Jan 543 200 1,200.00 3,200.00 30 550.00 SUMMARY OF COSTS: Total direct materials 3,200.00 Total direct labor 550.00 Overhead (30 direct labor hours @ $5/hr) 150 Total job cost 3,900.00 Average cost per unit produced 39.00

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