A Job Cost Sheet Of Sandwal Given Below in 2023
Here is the Job cost sheet of Sandwal Company is given below you can easily read this and understand their process;
A Job Cost Sheet Of Sandwal Given Below in 2023
Here we will discuss brief detail about Sandwal’s Company Job cost sheet;-
| Job Cost Sheet Of Sandwal Given Below in 2023 | |||
| Job No | 469 | Quantity | 2,500 |
| Item | White Lion Cages | Date Requested | 7/2 |
| For | Todd Company | Date Requested | 7/31 |
| Date | Direct Materials | Direct Labour | Manufacturing Over Head |
| 7/10 | 700 | ||
| 12 | 900 | ||
| 15 | 440 | 550 | |
| 22 | 380 | 475 | |
| 24 | 1,600 | ||
| 27 | 1,500 | ||
| 31 | 540 | 675 |
Cost of completed Jobs in Sandwal
| Cost of Completed Job:- | ||
| Direct materials | ||
| Direct Labor | ||
| Manufacturing Over | ||
| Total Cost | ||
| Unit Cost |
What are the necessary source document required for direct materials, Direct labor, and managing overhead costs assigned for these jobs?
| Source Documents | |
| Direct labor |
|
| Direct materials |
|
| Manufacturing Overhead |
|
What is the predetermined manufacturing overhead rate?
The Prdertermined Manufacturing Overhead rate is calculated at the beginning to the start of the accounting period by dividing the estimated manufacturing overhead by the given activity base; the Company predetermined overhead rate is then applied to production to facilitate determining the Standard Cost for a Product (A Job Cost Sheet Of Sandwal Given Below in 2023);
FAQ About A Job Cost Sheet Of Sandwal Given Below in 2023
Here is Frequently Asked question & answers related to this topic on Google here we will discuss all the faq in detail if you have any query you can comment below (A Job Cost Sheet Of Sandwal Given Below in 2023);-
Q. What is included on a Job cost sheet?
Here are some of the important characteristics found in a job cost sheet include the name and address of the customer, Job description, important dates, and Job number, and mention of all of the costs, such as direct materials, direct labor, and overhead rates;(A Job Cost Sheet Of Sandwal Given Below in 2023)
Q. What is the formula for job costing?
Total job cost= Materials + labor + Applied Overhead
Q. How is the job cost sheet prepared?
Every new job cost sheet is prepared by studying historical costs or by referring to the estimated costs; because a historical cost sheet is prepared on the basis of the last cost sheet and then the actual cost incurred for a product; After getting complete details we easily prepared estimate cost sheet or on the other hand they can prepare cost for begun the production;
Job Cost Sheet For example:-
| Cost Sheet | ||
| Details | Calculation | Amount |
| Direct Material: Material Consumed | 12,000 | |
| Opening stock Of Raw Materials | 130,000 | |
| Add: Purchases | 142,000 | |
| Less: Closing stock of Raw Materials | 8,2000 | 134,000 |
| Direct Wages | 50,000 | |
| Direct Expenses | 10,000 | |
| Prime Cost | 194,000 | |
| Factory Overhead
100% of direct Wages |
100* (50,000/100) | 50,000 |
| Work of Cost
Office Administrative Overhead:- 20 % work as Cost |
244,000 *(20/100) | 244,000
48,800 |
| Total cost production
Add: Opening stock of finished goods |
292,800
10,000 |
|
| Cost of goods available for sale
Less: Closing the stock of finished goods |
292,800
10,000 |
|
| Cost of goods sold
Selling distribution overhead |
302,800
15000 |
|
| Cost of Sales
Profit on cost %20 |
312,800 *(20/100) | 312,800
62,560 |
| Sales | 375,360 | |