Chapter 19, Problem 29E

1.

To determine

Concept introduction:

Job costing: Job costing refers to the method of costing which is based on a particular project where all the costs and revenues are being tracked for every project or job. Here, all the costs like direct material, direct labor, and overheads are separately written down, and then important decisions and assumptions are made.

Mr. F’s estimated cost of the architectural job.

2.

To determine

Concept introduction:

Job costing: Job costing refers to the method of costing which is based on a particular project where all the costs and revenues are being tracked for every project or job. Here, all the costs like direct material, direct labor, and overheads are separately written down, and then important decisions and assumptions are made.

The expected profit if Mr. F bids $285,000 price for the job.

3.

To determine

Concept introduction:

Job costing: Job costing refers to the method of costing which is based on a particular project where all the costs and revenues are being tracked for every project or job. Here, all the costs like direct material, direct labor, overheads, etc are separately written down, and then important decisions and assumptions are made.

The bid price at which Mr. F will earn a profit of $80,000.