Question

Exercise 2-2 (Static) Preparing job cost sheet and computing costs LO C1 The following information is from the materials requisitions and time tickets for Job 9 completed by Great Bay Boats. Materials requisitions are identified by code numbers starting with the letter M, and the time tickets start with T. Estimated (applied) overhead for Job 9 is $1,400. Date Document Amount July 1 M-46 $ 1,250 July 1 T-33 600 July 5 M-47 1,000 July 5 T-34 450 July 10 T-35 300 Prepare a job cost sheet for Job 9, which includes costs for direct materials, direct labor, overhead, and total cost.

Answer 1

The Cost Sheet for Job 9 for the month of July is as follows:

Direct materials                      $2,250

Direct labor                                1,350

Applied overhead                     1,400

Total cost of manufacturing $5,000

Data for Job 9:

Estimated (applied) overhead = $1,400

Materials Requisitions:

Date   Document             Amount

July 1       M-46                $ 1,250

July 5      M-47                    1,000

Total cost of materials = $2,250

Time Tickets:

Date   Document             Amount

July 1        T-33                         600

July 5        T-34                        450

July 10      T-35                        300

Total cost of direct labor = $1,350

Thus, the total cost of producing Job 9 in July is $5,000.

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