38 Job Cost Sheet 39 40 Sheets 16 41 White material 42 29 Blue material Yellow material 43 24 44 45 46 47 Hours 48 Measuring labor 0.40 40 49 0.40 Cutting labor Assembly labor 50 0.40 51 Total 1.20 52 53 Manufacturing Overhead CA 54 56 55 $ 13.48 56 56 57 Total Job Cost 58 Number of Quilts Made Cost per Quilt 59 60 61 62 D. Answer the following questions: 63 1. If you decide to charge the bookstore cost plus 40% for the quilts, the selling price for one quilt is: 64 Use your answers from #1 and the job cost sheet above to answer questions 2-5: 65 2. If the WVU Bookstore purchased all but one of the quilts you made, total sales revenue would be: 66 3. If the WVU Bookstore purchased all but one of the quilts you made, the cost of goods sold would be: 67 4. If the WVU Bookstore purchased all but one of the quilts you made, finished goods inventory would be: 68 5. If the WVU Bookstore purchased all but one of the quilts you made, your total gross profit would be: 69 70 Direct Materials Direct Labor Predetermined OH Rate Cost per Sheet $ Total 2.00 $ 32.00 4.00 116.00 4.00 96.00 $244.00 Rate per Hr. Total $ 14.00 $ 12.00 16.00 DLH Used $ 5.60 4.80 6.40 16.80 Total 1.20 $ 16.18 $ 276.98 15 $ 18.46 #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
38 Job Cost Sheet 39 40 Sheets 16 41 White material 42 29 Blue material Yellow material 43 24 44 45 46 47 Hours 48 Measuring labor 0.40 40 49 0.40 Cutting labor Assembly labor 50 0.40 51 Total 1.20 52 53 Manufacturing Overhead CA 54 56 55 $ 13.48 56 56 57 Total Job Cost 58 Number of Quilts Made Cost per Quilt 59 60 61 62 D. Answer the following questions: 63 1. If you decide to charge the bookstore cost plus 40% for the quilts, the selling price for one quilt is: 64 Use your answers from #1 and the job cost sheet above to answer questions 2-5: 65 2. If the WVU Bookstore purchased all but one of the quilts you made, total sales revenue would be: 66 3. If the WVU Bookstore purchased all but one of the quilts you made, the cost of goods sold would be: 67 4. If the WVU Bookstore purchased all but one of the quilts you made, finished goods inventory would be: 68 5. If the WVU Bookstore purchased all but one of the quilts you made, your total gross profit would be: 69 70 Direct Materials Direct Labor Predetermined OH Rate Cost per Sheet $ Total 2.00 $ 32.00 4.00 116.00 4.00 96.00 $244.00 Rate per Hr. Total $ 14.00 $ 12.00 16.00 DLH Used $ 5.60 4.80 6.40 16.80 Total 1.20 $ 16.18 $ 276.98 15 $ 18.46 #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter16: Manufacturing Accounting (mfg)
Section: Chapter Questions
Problem 2R
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I need help with section d using information from section c
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Job Cost Sheet
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Number of Quilts Made
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62 D.
Answer the following questions:
63
1.
If you decide to charge the bookstore cost plus 40% for the quilts, the selling price for one quilt is:
64
Use your answers from #1 and the job cost sheet above to answer questions 2-5:
65
2.
If the WVU Bookstore purchased all but one of the quilts you made, total sales revenue would be:
66
67
3. 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:
5. If the WVU Bookstore purchased all but one of the quilts you made, your total gross profit would be:
4.
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Accounting
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$ 276.98
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