Question: please help! Will rate :) Date Amount Labor Time Record No. 1896 1904 Description 12 hours at $14 30 hours at $20 4/30 5/3 168




please help! Will rate :)
Date Amount Labor Time Record No. 1896 1904 Description 12 hours at $14 30 hours at $20 4/30 5/3 168 $ $ 600 Date Materials Requisition No. 437 Amount 4/30 $ 960 Description 60 lbs. rubber at $16 40 meters polyester fabric at $10 100 meters steel cord at $8 512 439 $ 400 5/3 501 $ 800 Great Quality Tire manufactures tires for all-terrain vehicles. Great Quality uses job costing and has a perpetual inventory system. On April 22, Great Quality received an order for 100 TX tires from ATV Corporation at a price of $80 each. The job, assigned number 298, was promised for May 10. After purchasing the materials, Great Quality began production on April 30 and incurred the following direct labor and direct materials costs in completing the order: (Click the icon to view the costs.) Great Quality allocates manufacturing overhead to jobs on the basis of the relation between expected overhead costs ($420,000) and expected direct labor hours (20,000). Job 298 was completed on May 3 and shipped to ATV on May 5. Read the requirements Requirement 1. Prepare a job cost record for Job 298. Calculate the predetermined overhead rate, then apply manufacturing overhead to the job. Begin by identifying the formula and computing the predetermined overhead rate. Predetermined overhead rate per hour Complete the job cost record in order of direct materials, direct labor, and allocated manufacturing overhead. Then prepare the overall cost summary. (List the dates in chronological order. Enter the labor time records in the correct row according to date. If an input field is not used in the table, leave the input field empty; do not enter a zero.) Job Cost Record Job No. 298 ATV Corporation Customer Name Job Description Date Promised 5-10 100 TX tires Date Started 4-30 Date Completed 5-3 Manufacturing Overhead Allocated Direct Materials Direct Labor Labor Time Record Requisition Number Date Amount Number Amount Date Rate Amount 20xx per direct labor hr. Overall Cost Summary Direct Materials Direct Labor IT Manufacturing Overhead Allocated Totals Total Job Cost Requirement 2. Calculate the total profit and the per-unit profit for Job 298. (Round your answer to two decimal places.) Job 298 Sales Less: Cost of job Total profit on job Number of tires Per-unit profit
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