Summative assessment 2 Project 1 23112017 1014PM Prepare job

Summative assessment 2 Project 1 23/11/2017 10:14PM Prepare job costing information for the following Joseph runs an electrical contracting business and employs six electriclans. He is only involved in supervision but on occasion will assist if needed. He charges direct labour hours at $45.00 per hour. Three of Joseph\'s electric ians are working on a job that involves wiring and fitting fixtures in a new house for Mr and Mrs Fleet. All materials and fixtures used have come from inventory Each electrician spends half an hour at the beginning of each day on administration tasks and travels for half an hour to get to the job. They also spend half an hour at the end of the day undertaking administrative tasks. If they finish a job late afternoon and there is not enough time to start another they return to base and fill the time with other administrative tasks Geoff Smith ts responsible for the initial wiring. He calculates that he will need two rolls of electrical cabling and that it will take him 12 hours to complete the job. He works on the job on 15/10/11 and 18/10/11. He completes a materials requisition form and the cost per roll of electrical cable is 585.00 Peter Jones s responsible for fitting all fixtures. He has to fit 23 double power points and 15 down lights. Takes seven hours, so he works for longer to get t done tn one day (there are no overtime penalties to worry about). He works on the site on 18/10/11. His materials requisition form shows that the power ponts are S7.50 per unit and the down lights are $25 each. Brian Brown s the senior electric ian and he wired the switchboard, the circult breakers and checked the work undertaken by the others. He expected this to take about four hours but he was there for seven hours because of problems encountered. He began his work on 22/10/11 and completed the remaining four hours on 25/10/11. The switchboard cost was $190.00 and the circuit breakers were $19.00 each. Twelve were needed. Brian took the afternoon of the 22nd and the morning of the 25th off for recreation leave. He went straight from the job to take his le ave and went to the job from hits leave without going to the workshop, Recreation leave is costed as administration. Each electric tan normally starts at 8.30 am and has lunch from 12.30 until 1.00 pm At the beginning of the financial year Joseph examined all of his overhead costs; vehicle leases, rent on premises, inventory, replacement of specialised equipment, depreclation, Indirect labour, Indirect materials, salary on-costs and insurance. These Include his fixed and his variable costs. He calculated overall costs to be $662,500. 1. If each of hts stx electric ians worked 46 weeks at 40 hours per week, what are hs overhead costs? Jab costing.docx (86.6 KB) Trainer Comments 13/06/2017 03:19PM Not Satisfoctory. 18/10/2017 08:21PMStill Not Satisfactory 05/ 12/2017 01:46PM Now Satisfactory. 2. Complete the job sheets, the job cost forms for each electrk lan and the job cost report. The templates have been provided. JOSEPH\'S ELECTRICAL SERVICES Job Sheet Employee Electrician 1 Date

Solution

1.

	Per Hour
Labour	45
Smith	Per roll
Elec cable	85	2	170
Labour	12	45	540
			710
Peter jonez
Double power points	23	7.5	172.5
down lights	15	25	375
Labour	7	45	315
			862.5
Brian brown
Switch boead cost	1	190	190
Circuit breakers	12	19	228
Labour	7	45	315
			733
Job costing			2305.5
Labour overhead for the year on the basis of 46 weeks and 40 hours per week
Labour	6
Week	46
Hours / week	40
Total hours	11040
Rate	45
Labour overhead	496800