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Job Order Cost Sheet

Remnant Carpet Company sells and installs commercial carpeting for office buildings. Remnant Carpet Company uses a job order cost system. When a prospective customer asks for a price quote on a job, the estimated cost data are inserted on an unnumbered job cost sheet. If the offer is accepted, a number is assigned to the job, and the costs incurred are recorded in the usual manner on the job cost sheet. After the job is completed, reasons for the variances between the estimated and actual costs are noted on the sheet. The data are then available to management in evaluating the efficiency of operations and in preparing quotes on future jobs. On October 1, Remnant Carpet Company gave Jackson Consulting an estimate of $2,652 to carpet the consulting firms newly leased office. The estimate was based on the following data:

Estimated direct materials:
30 meters at $33 per meter	$ 990
Estimated direct labor:
20 hours at $30 per hour	600
Estimated factory overhead (75% of direct labor cost)	450
Total estimated costs	$2,040
Markup (30% of production costs)	612
Total estimate	$2,652

On October 3, Jackson Consulting signed a purchase contract, and the delivery and installation were completed on October 10.

The related materials requisitions and time tickets are summarized as follows:

Materials Requisition No.	Description	Amount
112	15 meters at $33	$495
114	19 meters at $33	627

Time Ticket No.	Description	Amount
H10	10 hours at $30	$300
H11	14 hours at $30	420

Required:

Enter amounts as positive numbers.

1. Complete that portion of the job order cost sheet that would be prepared when the estimate is given to the customer.

2. Record the costs incurred, and complete the job order cost sheet.

JOB ORDER COST SHEET
Customer Jackson Consulting Date October 1 Date wanted October 10 Date completed October 10 Job. No. ESTIMATE
Direct Materials			Direct Labor			Summary
		Amount			Amount		Amount
30 Meters at $33		$	20 Hours at $30		$	Direct Materials	$
						Direct Labor
						Factory Overhead
Total		$	Total		$	Total cost	$
ACTUAL
Direct Materials			Direct Labor			Summary
Mat. Req. No.	Description	Amount	Time Ticket No.	Description	Amount	Item	Amount
112	15 Meters at $33	$	H10	10 Hours at $30	$	Direct Materials	$
						Direct Labor
114	19 Meters at $33		H11	14 Hours at $30		Factory Overhead
Total		$	Total		$	Total Cost	$

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