Ellie Richard's Commercial Flooring installs stone, tile, and carpet flooring in office buildings, condominiums, and restaurants....
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Ellie Richard's Commercial Flooring installs stone, tile, and carpet flooring in office buildings, condominiums, and restaurants. The company traces labor and materials to each job, but overhead is assigned based on labor hours. At the start of the year, the company estimated overhead as follows: Rent $35,000 Depreciation of trucks 25,000 Depreciation of equipment 5,000 Supervisor salaries 150,000 Other overhead 20,000 $235,000 Total labor hours were estimated to be 11,520. During the first week in December, the company started and completed a job installing black granite tiles in the remodeled lounge of Joey D's Restaurant. In total, the job took 36 hours. The average wage rate of installers is $35 per hour. Materials for the job including tiles and grouting cost $7,500. (a) What is the cost of the job? Cost of the job $ Ellie Richard's Commercial Flooring installs stone, tile, and carpet flooring in office buildings, condominiums, and restaurants. The company traces labor and materials to each job, but overhead is assigned based on labor hours. At the start of the year, the company estimated overhead as follows: Rent $35,000 Depreciation of trucks 25,000 Depreciation of equipment 5,000 Supervisor salaries 150,000 Other overhead 20,000 $235,000 Total labor hours were estimated to be 11,520. During the first week in December, the company started and completed a job installing black granite tiles in the remodeled lounge of Joey D's Restaurant. In total, the job took 36 hours. The average wage rate of installers is $35 per hour. Materials for the job including tiles and grouting cost $7,500. (a) What is the cost of the job? Cost of the job $
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1 Labor Cost Calculation Total labor hours for the job 36 hours Wage rate per hour 35 Labor cost Tot... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
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