Homework Help is Here – Start Your Trial Now!
Business
Accounting
Required: A sultable cost sheet showing the above date. Dld the company make an adeq uate profit margin on thls order?

Required: A sultable cost sheet showing the above date. Dld the company make an adeq uate profit margin on thls order?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Week Ending 09/08 Week Ending 09/15 Material used, Dept. 1 Rs. 676,200 Rs. 366,275 Direct labor rate, Dept. 1 Rs. 2,310.35 per hour Rs. 2310.35 per hour Labor hours used, Dept. 1 490 315 Direct labor rate, Dept. 2 Rs. 2,254 per hour Rs. 2,254 per hour Labor hours used, Dept. 2 228 88 Machine hours, Dept. 2 315 175 Applied factory overhead, Dept. 1 Rs. 1,127 per labor hour Rs. 1,127 per labor houfs Applied faciory overhead, Dept 2 Rs. 507 per machine hour Rs. 507 per machine hour Marketlng and admlnistrative costs are charged to each order at a rate of 23.5% of the cost to manufacture. Required: A sultable cost sheet showing the above date. Dld the company make an adequate profit margin on thls order?
Transcribed Image Text:Week Ending 09/08 Week Ending 09/15 Material used, Dept. 1 Rs. 676,200 Rs. 366,275 Direct labor rate, Dept. 1 Rs. 2,310.35 per hour Rs. 2310.35 per hour Labor hours used, Dept. 1 490 315 Direct labor rate, Dept. 2 Rs. 2,254 per hour Rs. 2,254 per hour Labor hours used, Dept. 2 228 88 Machine hours, Dept. 2 315 175 Applied factory overhead, Dept. 1 Rs. 1,127 per labor hour Rs. 1,127 per labor houfs Applied faciory overhead, Dept 2 Rs. 507 per machine hour Rs. 507 per machine hour Marketlng and admlnistrative costs are charged to each order at a rate of 23.5% of the cost to manufacture. Required: A sultable cost sheet showing the above date. Dld the company make an adequate profit margin on thls order?
Q 1: Job order cost sheet. Crowley Company produces speclal machlnes made to customer specifications. The following data pertain to Job 1206 Cu stomer: Shelikoff Machine Shop Dare started: 05/1/2 Customer's Order No. C796 Date finished: 09/15/20- Dated: August 25 Total cost to manufacture: ? Page 1 of 4 Descriptlon: 30 drilling units Sales price: The sales price of the job, ww w w assumlng that it was contracted wlth a markup of wwww 35% cost Week Ending 09/08 Week Ending 09/15
Transcribed Image Text:Q 1: Job order cost sheet. Crowley Company produces speclal machlnes made to customer specifications. The following data pertain to Job 1206 Cu stomer: Shelikoff Machine Shop Dare started: 05/1/2 Customer's Order No. C796 Date finished: 09/15/20- Dated: August 25 Total cost to manufacture: ? Page 1 of 4 Descriptlon: 30 drilling units Sales price: The sales price of the job, ww w w assumlng that it was contracted wlth a markup of wwww 35% cost Week Ending 09/08 Week Ending 09/15
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost classification
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS