Create a job cost sheet on a furniture manufacturing company. Describe the flow of different cost...

Create a job cost sheet on a furniture manufacturing company.

Describe the flow of different cost items.

Expert Solution

Particulars	Calculations	Amount

Direct Material-
Wood	500,000	500,000

Direct labor		50,000
Direct overhead		25,000

Prime cost		575,000

Design cost		20,000
Factory overhead- 60% of wages		30,000
Office and administrative cost- 20% of prime cost		115,000

Total cost of production		740,000

Selling and distribution overhead		37,000

Cost of sales		777,000

Flow of cost-

Direct material mainly includes wood require for manufcaturing and direct labor includes processing of woods.

Direct overhead includes adhesives, tools, paints required for wood and is estimated at 50% of the direct labor.

Design cost is fixed for the month as specialised architect has been employed for this purpose with one helper.

Factory overhead and office & admin cost are taken as percentage of cost of production based on historical experience.

Selling and distributio cost is at 5% of cost of sales based on industry practice.

ekkarill92 answered 1 year ago

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