Shea Furniture started and finished Job 310 during April. The company\'s records

Question

Shea Furniture started and finished Job 310 during April. The company's records show that the following direct materials were requisitioned 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 $12 per direct labor hour. Read the requirements (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 More Info Total Direct Materials: Lumber Padding Upholstery fabric 52 units at 16 yards at 28 yards at 9 per unit per yard ard 468 336 644 Lumber: 52 units at $9 per unit Padding: 16 yards at $21 per yard Upholstery fabric: 28 yards at $23 per yard 21 23 per y 1448 Total Direct Materials Direct Labor: Joe Hume Jarrod Patten More Info 16 hours at16 per hour 18 hours at 34 hours 270 15 per hour Joe Hume: 16 hours at $16 per hour Jarrod Patten: 18 hours at $15 per hour 526 Total Direct Labor Choose from any list or enter any number in the input fields and then continue to the next question. Print Done

Explanation / Answer

Question 1 has been rightly solved

Solution for Question 2 is as follows:

Requirement 1: Predetermined Overhead Rate

Estimated yearly overhead cost/Estimated yearly direct labour hours = Predetermibed Overhead rate

=784700/41300 = 19 per hour

Manufacturing Cost:

Direct material = 15,400

Direct labour = 200*36 = 7200

Manufacturing Overheads = 200*19 = 3800

(since absorbed on the basis of direct labour hours)

Total Job Cost = 26,400

Requirement 2: Price to pay

Manufacturing Cost + 25% Margin = Total Price to Charge

= 26400+6600 = 33,000

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