Portland Electronics, Inc, delivered 1,000 custom-designed computer monitors on
ID: 2443457 • Letter: P
Question
Portland Electronics, Inc, delivered 1,000 custom-designed computer monitors on Feb. 10 to its customer Video Shack; the monitors had been ordered on January 1. The following cost information was compiled in connection with this order:Direct materials used:
Part A327: 1 Unit costing $60.00 per monitor
Part B149: 1 Unit costing $120 per monitor
Direct labor used
Assembly: 6 hours per monitor at the rate of $10 per hour
Inspection: 1 hour per monitor at the rate of $12 per hour
In addition, manufacturing support costs are applied to the job at the rate of $5 per direct hour. The selling price for each monitor is $350.00
This is what I have so far:
3-36, pg 124
a. Prepare a Job cost sheet for this job.
Customer: Video Shack
Product: Computer Monitors
Engineering Design Number(s): A327 & B149
Total Number of Units Ordered: 1,000
Panel 2
Materials Requisition Number Description Quanity Price Amount
A327 Part of Monitor 1 $60
B149 Part of Monitor 1 $60
Panel 3
Dates Employee Number Hours Rate Amount
01/01 M15 6 $10
01/01 M16 1 $12
Panel 4
Supports Costs
Explanation / Answer
Direct Materials
Item
Amount
Part A327
$60*1000 = 60000
Part B149
$120*1000 = 120000
Totals
180000
Direct Labor
Task
Hours
Amount
Assembly
6*1000=6000
10*6000=60000
Inspection
1*1000=1000
12*1000=12000
Totals
72000
Manufacturing Cost
DM
Rate
Amount
$180,000
$5
360000
Totals
360000
Cost Summary
Direct Materials
180000
Direct Labor
72000
Manufacturing Cost
360000
Total Cost
612000
Direct Materials
Item
Amount
Part A327
$60*1000 = 60000
Part B149
$120*1000 = 120000
Totals
180000