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Bubble94 Bubble94
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5 years ago
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1. London Ceramics makes custom ceramic tiles. During March, the company started and finished Job #266. Job #266 consists of 2,500 tiles; each tile sells for $10.00. The company's records show the following direct materials were requisitioned for Job #266.

Basic terra cotta tiles:  2,500 units
Specialty paint:  5 quarts
High gloss glaze:  4 quarts

Labor time records show the following employees worked on Job #266:

Alice Cooper:  18 hours
Matthew Kline:  20 hours

London Ceramics allocates manufacturing overhead at a rate of $27 per direct labor hour.

A)  Complete Job #266's job cost record below to calculate the unit cost of the job.

Job cost per unit =

Manufacturing Cost Information   Cost Detail   Cost Total
Direct Materials:
   
   
   Basic Terra Cotta Tiles   $4.00 per unit
   10,000.00
   Specialty Paint
   $7.00 per quart
   35.00
    High gloss glaze
   $12.00 per quart   48.00
Total Direct Materials Cost      
Direct Labor:
      
   Cooper
   $25 per hour
   450
    Kline
   $15 per hour   300
Total Direct Labor   
   
Manufacturing Overhead
      
Total Job Cost   DM+DL+MOH   
Number of Units      
Job Cost per Unit      

B)   What is the gross profit per tile on Job #266?  
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bolbolbolbol
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Direct Materials (2,500×$4) + (5×$7) + (4×$12) = $ 10,083
Direct Labor (18×$ 24) + (20×$ 13) = $ 692
MOH (20 + 18) ($ 27) = $1,026
Then $ 10,083 + 692 + 1,026 = $11,801 / 2,500 = $ 4.72
Final step $ 12.00 - 4.72 = $ 7.28
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