PART A: Determine the cost of a job: E-Z Boy started and finis

PART A: Determine the cost of a job: E-Z Boy started and finis

PART A: Determine the cost of a job: E-Z Boy started and finished Job 310 during April. The company’s records show that the following direct materials were
requisitioned for Job 310: Lumber: 50 units @ $9.00 per unit Padding: 15 yards @ $20.00 per yard Upholstery fabric: 30 yards @ $25.00 per yard Labor time
records show the following employees (direct labor) worked on Job 310: Vince Owens: 10 hours at $10 per hour Patrick Erin: 15 hours at $15 per hour E-Z Boy
allocates manufacturing overhead at a rate of $9 per direct labor hour. Requirements: Compute the total amount of direct materials, direct labor and
manufacturing overhead that should be shown on Job 310’s job cost record. Job 310 consists of five recliners. If each recliner sells for $600, what is the
gross profit per recliner? The attachment provides you a chart to help complete the problem. You may attach the completed chart to demonstrate your work, but
please provide the answer: Gross profit per recliner.

PART B: Using activity-based costing, what are indirect costs allocated while direct costs are not allocated? Discuss the difference between “allocate” and
“assign”.

Based on the above question Fill the Following table…

Job Cost Record for Job #310

		Total per 1 unit
Direct Materials:
Lumber: 50 units @ $9.00 per unit	$ 450
Padding: 15 yards at $20 per unit
Upholstery fabric: 30 yards at $25 per yard
Direct Labor:
Vince Owens
Patrick Erin
Total Direct Labor
Manufacturing Overhead Allocated
$$9 per direct labor hour (calculated above)
Total Job Cost

Sales Price per recliner $ 600.00

Cost per recliner (Total job Cost divided by 5 recliners) _____________

Gross profit per recliner $ ____________

You may attach this worksheet for the problem and enter the Gross profit per recliner as a number in the assignment section.

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