Question: This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 16-34 of Chapter 16. Lawlor completed a special landscaping job for Sheldons Ideal Designs.

This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 16-34 of Chapter 16. Lawlor completed a special landscaping job for Sheldon’s Ideal Designs. Lawlor collected the following data about the job:

Sheldon job details:

Direct materials .... $ 700

Direct labor ..... $1,200

Requirements

1. Lawlor allocates overhead costs based on 60% of direct labor cost. What is the total cost of the Sheldon job?

2. If the price Sheldon paid for the job is $3,460, what is the profit or loss on the job?

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