Reference no: EM132716163
Question - Whitley Construction Company is in the home remodeling business. Whitley has three teams of highly skilled employees, each of whom has multiple skills involving carpentry, painting, and other home remodeling activities. Each team is led by an experienced employee who coordinates the work done on each job. As the needs of different jobs change, some team members may be shifted to other teams for short periods of time. Whitley uses a job costing system to determine job costs and to serve as a basis for bidding and pricing the jobs. Direct materials and direct labor are easily traced to each job using Whitley's cost tracking software. Overhead consists of the purchase and maintenance of construction equipment, some supervisory labor, the cost of bidding for new customers, and administrative costs. Whitley uses an annual overhead rate based on direct labor hours.
Whitley has recently completed work for three clients: Harrison, Barnes, and Tyler. The cost data for each of the three jobs are summarized below:
Job
|
Direct Materials
|
Direct Labor Hours
|
Direct Labor Cost
|
Harrison
|
$6,918
|
45
|
$15,719
|
Barnes
|
13,394
|
90
|
23,526
|
Tyler
|
43,746
|
150
|
50,996
|
Budgeted direct materials cost and direct labor cost for the year are estimated at $505,000 and $710,000, respectively. Direct labor hours are budgeted at 28,000 hours, and total overhead is budgeted at $840,000.
Required -
1. Calculate the total cost of each of the three jobs.
2. Suppose that for the entire year, Whitley used 29,300 labor hours and total actual overhead was $872,000. What is the amount of underapplied or overapplied overhead?
Give journal entry and adjusting entry
: The unpaid balance of the land and building is on account from Engr Polo's friend who is owner of the land and building. Give journal entry and adjusting entry
|
Create alternative decision matrix for your system
: Create an alternative decision matrix for the your system you are proposing (website redesign for marketing).
|
How much is the gain or loss on disposal
: Depreciation for the first six months of Year 4 $2,000. On July 1, Year 4, the machine was sold for $20,000. How much is the gain or loss on disposal
|
Object-oriented design in this organization
: Select an organization that you are familiar with and determine the most advantageous benefits of using object-oriented design in this organization
|
What is the amount of underapplied or overapplied overhead
: Suppose that for the entire year, Whitley used 29,300 labor hours and total actual overhead was $872,000. What is amount of underapplied or overapplied overhead
|
Discover threats to data integrity and validity
: Identify the various data sources that populate the electronic health record. Discover threats to data integrity and validity.
|
Totally anonymous means of accessing the internet
: Describe the reasons for having a totally anonymous means of accessing the internet. Please also discuss the dangers of that same internet.
|
What is the total static-budget variance
: The Fortise Corporation manufactures two types of vacuum cleaners, What is the total static-budget variance in terms of the contribution margin
|
Create redundancy-thereby causing data anomalies
: Why is it then that with an RDBMS, a primary key and foreign key can still create redundancy, thereby causing data anomalies?
|