Question

The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job.

Determine the total cost on the job cost sheet for Job 9-1005.

Date Document Amount
7/1/2103 Q-4698 $1,250
7/1/2013 W-3393 600
7/5/2013 Q-4725 1,000
7/5/2013 W-3479 450
7/10/2013 W-3559 300

Answer 1

$5,085

Step-by-step explanation:

The preparation of Job Sheet is shown below:-

Great Bay Boats

Job Sheet cost

Job 9-1005

Particulars Amount

Direct material cost

Q-4698 $1,250

Q-4725 $1,000

Total cost $2,250

Direct labor cost

W-3393 $600

W-3479 $450

W-3559 $300

Total cost $1,350

Overhead cost

($1,350 × 110%) $1,485

Total cost for Job 9-1005 $5,085