The following production estimates were made for the coming year: Total quilts to be produced Total...

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The following production estimates were made for the coming year: Total quilts to be produced Total manufacturing hours available per laborer Total direct laborers Total direct labor hours The following cost estimates were available at the beginning of the year. Use these estimates to determine total estimated manufacturing overhead during the year: Production supervisor's salary per week (use 52 weeks in a year) Monthly rent Utilities expense per quarter Cost per pencil (useful life of each pencil is 20 hours) Cost per scissors (useful life of each pair of scissors is 80 hours) Cost per ruler (usefule life of each ruler is 50 hours) Cost of glue (per quilt) Total Estimated Manufacturing Overhead Complete the following job cost sheet for the WVU themed quilts: Direct Materials White material Blue material Yellow material Direct Labor Measuring labor Cutting labor Assembly labor Total Calculate the predetermined Overhead (PDOH) rate using direct labor hours (DLH) as the cost driver during the year to allocate manufacturing overhead to jobs and Work In Process Inventory: Manufacturing Overhead Job Cost Sheet Predetermined OH Rate Total Job Cost Number of Quilts Made Cost per Quilt Sheets Cost per Sheet $ 2.00 4.00 4.00 Hours 0.40 0.40 0.40 1.20 Rate per Hr. 14.00 12.00 16.00 $ DLH Used Answer the following questions: If you decide to charge the bookstore cost plus 40% for the quilts, the selling price for one quilt is: 20,000 2,000 3 6,000 Use your answers from #1 and the job cost sheet above to answer questions 2-5: If the WVU Bookstore purchased all but one of the quilts you made, total sales revenue would be: If the WVU Bookstore purchased all but one of the quilts you made, the cost of goods sold would be: If the WVU Bookstore purchased all but one of the quilts you made, finished goods inventory would be: If the WVU Bookstore purchased all but one of the quilts you made, your total gross profit would be: Amount $ 1,000 643 643 2 101 53 0.53 PDOH= Total Total Estimate for Year 52,000.00 7,716.00 2,572.00 Total $ per DLH The following production estimates were made for the coming year: Total quilts to be produced Total manufacturing hours available per laborer Total direct laborers Total direct labor hours The following cost estimates were available at the beginning of the year. Use these estimates to determine total estimated manufacturing overhead during the year: Production supervisor's salary per week (use 52 weeks in a year) Monthly rent Utilities expense per quarter Cost per pencil (useful life of each pencil is 20 hours) Cost per scissors (useful life of each pair of scissors is 80 hours) Cost per ruler (usefule life of each ruler is 50 hours) Cost of glue (per quilt) Total Estimated Manufacturing Overhead Complete the following job cost sheet for the WVU themed quilts: Direct Materials White material Blue material Yellow material Direct Labor Measuring labor Cutting labor Assembly labor Total Calculate the predetermined Overhead (PDOH) rate using direct labor hours (DLH) as the cost driver during the year to allocate manufacturing overhead to jobs and Work In Process Inventory: Manufacturing Overhead Job Cost Sheet Predetermined OH Rate Total Job Cost Number of Quilts Made Cost per Quilt Sheets Cost per Sheet $ 2.00 4.00 4.00 Hours 0.40 0.40 0.40 1.20 Rate per Hr. 14.00 12.00 16.00 $ DLH Used Answer the following questions: If you decide to charge the bookstore cost plus 40% for the quilts, the selling price for one quilt is: 20,000 2,000 3 6,000 Use your answers from #1 and the job cost sheet above to answer questions 2-5: If the WVU Bookstore purchased all but one of the quilts you made, total sales revenue would be: If the WVU Bookstore purchased all but one of the quilts you made, the cost of goods sold would be: If the WVU Bookstore purchased all but one of the quilts you made, finished goods inventory would be: If the WVU Bookstore purchased all but one of the quilts you made, your total gross profit would be: Amount $ 1,000 643 643 2 101 53 0.53 PDOH= Total Total Estimate for Year 52,000.00 7,716.00 2,572.00 Total $ per DLH

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To complete the job cost sheet for the WVU themed quilts and to answer the subsequent questions we first need to calculate the Predetermined Overhead ... View the full answer