The following information is from the materials requisitions

The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. 7/1/2017 0-4698 $1,250 7/1/2017 -3393 7/5/2017 0-4725 1,000 7/5/2017W-3479 7/10/2017 W-3559 600 450 300 Determine the total cost on the job cost sheet for Job 9-1005 JOB COST SHEET: Job 9-1005 Direct Materials Direct Labor Overhead Total Cost Date 07/01/2017 Q-4698 07/05/2017 Q-4725 07/10/2017 Requisition No. Amount Time-Ticket No. Amount $1,250 W 3393 1,000 W-3479 W-3559 S 600 450 300 $1,350 S 2,250 5,085

Solution

Job Cost sheet

note:

overhead applied = 110% * direct labour amount

=> W-3393 overhead = $600*110% =>$660.

W-3473 overhead = $450 *110% =>$495.

W- 3559 overhead = $300*110% =>$330.

	Direct material	Direct labour	Overhead
Date	Requisition no.	Amount	Time ticket no	Amount	Cost applied	Total cost
07/01/2017	Q - 4698	$1,250	W-3393	$600	$660	$2,510
07/05/2017	Q- 4725	$1,000	W-3479	$450	$495	$1,945
07/10/2017			W-3359	$300	$330	$630
		$2,250		$1,350	$1,485	$5,085