A plumbing repair company has 3 employees and must choose which of 3 jobs to assign each to (each employee is assigned toexactly one job and each job must have someone assigned). Each employee can perform each job, but the cost to perform any givenjob can vary. The following table shows the cost for each employee to perform each job.Employee A46Employee BEmployee CJob 14549Job 2Job 3365537383951Solve this assignment problem in Excel to find the lowest cost solution and answer the following questions:a. Which employee is assigned to job 1?(Click to select)b. Which employee is assigned to job 2?(Click to select)c. Which employee is assigned to job 3?(Click to select) vd. What is the minimum cost to complete all three jobs?Minimum cost< Prev2 of 5Next >...

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Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter17: Job Order Costing (job)

Section: Chapter Questions

Problem 7R: Nutts management is very concerned about the cost of overhead on its jobs. When jobs are complete,...

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Water Works Plumbing Company is a small owner-managed plumbing services company that serves the greater Miami metropolitan area. Identify each of the following costs as either a variable, a fixed, or a quasi-fixed cost and give a detailed explanation. c) Cost of a complete set of tools needed to be a plumber. d) Labor expense for an assistant plumber who is hired on an hourly basis and works with the owner-manager of the firm when the owner needs a helper.
Direct labor hours (professional). . . . . 10,000 hours Direct labor costs (professional). . . . . $1,300,000 Support staff salaries. . . . . . . . . . . . . . . $160,000 Computer lease payments. . . . . . . . . . . $48,000 Office supplies. . . . . . . . . . . . . . . . . . . . . $28,000 Office rent. . . . . . . . . . . . . . . . . . . . . . . . . $63,000 Dining Coop SunTime.com Direct labor hours. . . . . 740 hours 70 hours Licensing costs. . . . . . . $2,700 $200 Travel costs. . . . . . . . . . $5,000 $0 Requirement 2. Compute the total cost of each of the two jobs listed. First enter in the direct costs for each job, then enter in the indirect costs and total cost for the jobs. (Complete all input fields. For accounts with no balance, make sure to enter "0" in the appropriate cell. Enter percentage amounts as a whole number. Round your answers to the nearest whole dollar.)
Mr. Abdul is a general manger of Al Nizwa Production LLC. Mr. Abdul has provided the following cost data from the cost sheet of a job and requested you to determine the percentage of profit to cost. Direct Material RO 6,000, Production overheads RO 4,000, General Overheads RO 7,000, Distribution Overhead RO 4,000, Direct expenses RO 4,000, and Sales Value RO 30,000. a. 61.67% b. 2.00% c. 20.00% d. 16.67%
This list contains costs that various organizations incur; they fall into three categories: direct materials (DM), direct labor (DL), or overhead (OH).t Classify each of these items as direct materials, direct labor, or overhead. Glue used to attach labels to bottles containing a patented medicine. Compressed air used in operating paint sprayers for Student Painters, a company that paints houses and apartments. Insurance on a factory building and equipment. A production department supervisors salary. Rent on factory machinery. Iron ore in a steel mill. Oil, gasoline, and grease for forklift trucks in a manufacturing companys warehouse. Services of painters in building construction. Cutting oils used in machining operations. Cost of paper towels in a factory employees washroom. Payroll taxes and fringe benefits related to direct labor. The plant electricians salaries. Crude oil to an oil refinery. Copy editors salary in a book publishing company. Assume your classifications could be challenged in a court case. Indicate to your attorneys which of your answers for part a might be successfully disputed by the opposing attorneys and why. In which answers are you completely confident?
Nutts management is very concerned about the cost of overhead on its jobs. When jobs are complete, overhead costs should be between 15% and 20% of total costs. For example, the labor cost on Job 8958 is 25% of total costs, higher than the norm. Open Job 8961 and click the Chart sheet tab. A pie chart appears showing the cost components on that job. Record the labor cost percentage in the space provided. Repeat this for each of the jobs worked on in August. Did Nutt maintain good cost control on all its jobs? Explain. Worksheet. During September, Job 8963 required two additional material requisitions to complete the job. Open JOB8963 and modify the job cost sheet to include an area for four direct material requisition entries instead of three. Then enter the following two materials requisitions onto the worksheet: Preview the printout to make sure it will print neatly on one page, and then print the worksheet. Save the completed worksheet as JOBT. Chart. Open JOB8964 and click the Chart sheet tab. Prepare a bar chart for JOB8964 showing the amount of material, labor, and overhead required to complete the job. Use the Chart Data Table found in rows 4246 as a basis for preparing the chart. Enter your name somewhere on the chart. Save the file again as J0B8964. Print the chart.
An employee is paid on a piecework basis. The basis of the piecework scheme is as follows: 1 to 100 units – $0.20 per unit 101 to 200 units – $0.30 per unit 201 to 299 units – $0.40 per unit with only the additional units qualifying for the higher rates. Rejected units do not qualify for payment. During a particular day the employee produced 210 units of which 17 were rejected as faulty. What did the employee earn for their day's work?
Rachael has a job assembling a certain car accessory. Last month she made a total of 424 items. Calculate her gross pay (in $) if she is paid on the following differential piecework schedule. Pay Level Items produced Rate per Item 1 1–160 $9.18 2 Over 160 $11.61 $ ______
On March 21,2021, Christine worked 5.5 hours on Job A-1, and 3 hours on general "overhead activities." Christine is paid $20 per hour. Overhead is applied based on $22 per direct labor hour. Additionally, on March 21 Job A-1 requisitioned and entered into production $250 of direct material. On March 21, Christine, while working on Job A-1 used $27 of indirect material. Indirect material is included in the overhead application rate. Use this information to determine the total cost that should have been recorded in the Work in Process for Job A-1 on March 21? Round your answer to the closest whole number (no cents).
A loom operator in a textiles factory earns $16 per hour. By contract, the employee earns $24 (time and a half) for overtime hours. The operator worked 45 hours during the first week of May, and overtime is paid after the usual 40 hours.Required:1. Compute the loom operator’s compensation for the week.2. Calculate the employee’s total overtime premium for the week.3. How much of the employee’s total compensation for the week is direct-labor cost? How much is overhead?
Using ABC in a service company Blanchette Plant Service completed a special landscaping job for Kerry Company. Blanchette uses ABC and has the following predetermined overhead allocation rates: The Kerry job included $750 in plants; $1,300 in direct labor; one design; and 30 plants. Requirements What is the total cost of the Kerry job? If Kerry paid $3,540 for the job, what is the operating income or loss? If Blanchette desires an operating income of 30% of cost, how much should the company charge for the Kerry job?
Rundle Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials adn labor costs are as follows. Expected Cost Home 1 Home 2 Home 3 Direct Labor $77,000 $100,000 $172,000 Direct Materials 108,000 146,000 198,000 Assume Randle needs to allocate two major overhead costs ($69,800 of employee fringe benefits and $36160 of indirect materials costs) among the three jobs. Choose an appropriate cost driver for each of the overhead costs and determine the total cost of each house. "Round allocated rate to two decimal places.
Deborah's employer offers fringe benefits that cost the company P3 for each hour of employee time (both regular and overtime). Her regular wage rate is P70 per hour while her overtime rate is P17.50/hour. During a given week, Deborah works 42 hours but is idle for 3 hours due to material shortages. The company treats all fringe benefits as part of manufacturing overhead. The allocated of Deborah's wages and fringe benefits for the week for the direct labor cost will be:

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a. Which employee is assigned to job 1? (Click to select) b. Which employee is assigned to job 2? (Click to select) c. Which employee is assigned to job 3? (Click to select)