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Job Coat Steel Hallmark Furniture Company relishes and reporters furniture Hallmark Furniture et a job order cott, When prospective customer asks for a price quote on a job, the estimated cost data are inserted on an unnumbered Joe cost shot. 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 the available to management in avaustino the efficiency of operations and in preparing quotes on future jobs. On February 14, 20rt, an estimate of 52,990 for reupholstering a chair and couch was given to Millard Schmidt. The estimate was based on the following data Estimated direct materials: 40 meters at $30 per meter $1,320 Estimated direct lobor: 28 hours at $20 per hour 560 Estimated factory overhead (75% of direct labor cost) 420 Total estimated costs $2,300 Markup (30% of production costs 690 Total estimate $2,990 On February 17, the chair and couch were picked up from the residence of Millard Schmidt, 315 White Oak Drive, Columbus, Georgia, with a commitment to return them on March 15. The job was completed on March 9 The related materials requisitions and time tickets are summarized as follows: Materials Requisition No. Amount 122 5660 Description 20 meters at $33 24 meters at $33 Description 129 792 Time Ticket No. Amount T344 5280 14 hours at $20 18 hours at $20 T348 360 Instructions: 1. Complete the portion of the job cost sheet that would be prepared when the estimate is given to the customer 2. Assign number 02-019 to the job, record the actual costs incurred, and complete the job cost sheet. JOB COST SHEET Date February 14, 2011 Customer Millard Schmidt Address March 15, 2011 315 White Oak Drive Date wanted Columbus, GA Date completed March 9, 2011 Item 02-019 Reupholster couch and chair Job. No. ESTIMATE Columbus, GA Date completed March 9, 2011 Item Reupholster couch and chair Job. No. 02-019 ESTIMATE Direct Materials Direct Labor Summary Amount Amount Amount 40 Meters at $33 28 Hours at $20 Direct Materials Direct Labor Factory Overhead Total Total Total cost ACTUAL Direct Materials Direct Labor Summary Description Amount Mat. Reg. No. Time Tic No. Amount Description Item Amount Direct Materials 122 20 Meters at $33 T344 14 Hours at $20 Direct Labor 129 24 Meters at $33 T348 18 Hours at $20 Factory Overhead Total Total Total Cost

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