Question

Garrett Toy Company incurred the following costs in April to produce job number TB78, which consisted of 1,000 teddy bears that can walk, talk, and play cards.

Direct Material:
4/1/20x0 Requisition number 101: 300 yards of fabric at $0.80 per yard
4/5/20x0 Requisition number 108: 600 cubic feet of stuffing at $0.20 per cubic foot

Direct Labor:
From employee time cards for 4/1/20x0 through 4/8/20x0: 600 hours at $11.00 per hour

Manufacturing Overhead:
Applied on the basis of direct-labor hours at $2.00 per hour.

Job number TB78 was completed on April 15. On April 30, 600 of the bears were shipped to a local toy store.

Required:
Prepare a job-cost record using the information given above.

Prepare a job-cost record.

	JOB-COST RECORD Job Number TB78 Description Teddy bears Date Started 4/1 Date Completed 4/15 Number of Units Completed ?

Determine the direct material cost. (Round "Unit Price" to 2 decimal places.)

	Direct Material Date Requisition Number Quantity Unit Price Cost 04/01 101 ? ? 04/05 108 ? ?

Determine the direct labor cost.

	Direct Labor Date Time Card Number Hours Rate Cost 4/1 - 4/8 Various time cards ? ?

Determine the manufacturing overhead cost.

	Manufacturing Overhead Date Activity Base Quantity Application Rate Cost 04/15 Direct-labor hours ? ?

GARRETT TOY COMPANY

Cost Summary

Cost Item. Amount

Total direct material ?

Total direct labor ?

Total manufacturing overhead. ?

Total cost ?

Unit cost ?

Prepare a Shipping Summary. (Do not round intermediate calculations.)

	Shipping Summary Date Units Shipped Units Remaining in Inventory Cost Balance 04/30 ? ? ?

Answer 1

​​​​​​JOB COST RECORD
Job number	TB78	Date Started	4/1
Description	Teddy Bears	Date Completed	4/15
Number of Units Completed	1000

Determine the direct material cost. (Round "Unit Price" to 2 decimal places.)
Direct Material
Date	Requisition number	Quantity	Unit	Price	Cost
04/01	101	300	yards	0.80/yard	240
04/05	108	600	cubic feet	0.20/cubic foot	120
				Total	360

Determine the direct labor cost.
Direct Labor
Date	Time Card Number	Hours	Rate	Cost
04/01 - 04/08	Various Time Cards	600	11	6600

Determine the manufacturing overhead cost.
Manufacturing Overhead
Date	Activity base	Quantity	Application Rate	Cost
04/05	Direct-labor hours	600	2	1200

GARRETT TOY COMPANY
Cost Summary
Cost Item	Amount
Total direct material	360
Total direct labor	6600
Total manufacturing overhead	1200
Total cost	8160
Unit cost	8.16	(8160/1000)

Prepare a Shipping Summary. (Do not round intermediate calculations.)
Shipping Summary
Date	Units Shipped	Units Remaining in Inventory	Cost Balance
4/30	600	400	3264
			(400*8.16)