How much did janavee bid on the job

Assignment Help Accounting Basics
Reference no: EM131915426

Question - JOB COSTING (QUICK EASY QUESTION) (TOOK ME ONLY 10 MINUTES TO DO)

Janavee Construction applies all overhead to jobs on the basis of direct labor hours. This period, manufacturing overhead is budgeted to be $1,800,000, and direct labor hours are budgeted to be 90,000. Janavee pays direct labor $12/hour.

Janavee bid on a job that it estimated would require $200,000 in direct materials and 10,000 direct labor hours. Janavee's bidding policy is to add 50% to the estimated manufacturing cost of a job to cover operating expenses and produce a profit.

Janavee won the bid and completed the job, whose total cost came in at 105% of projected cost. 7% of that cost was spent on construction that was ruined due to weather conditions and had to be rebuilt. This occurrence was considered a normal part of the construction process.

How much did Janavee bid on the job?

Reference no: EM131915426

Questions Cloud

What are the tax consequences to terry : Assume the data are the same, except the fair market value of the property is $2,525,000. What are the tax consequences to Terry
Analyze the advantages of the instrument : Provide a rationale for your choice of the performance appraisal instrument. Analyze the advantages of the instrument. Analyze the disadvantages of instrument.
Explain the three elements of the opportunity triangle : Explain the three elements of the opportunity triangle, and discuss how The company/the fraudster accomplished each
How to prevent the stress related self destruction : Write a one to two page paper giving your thoughts on what you can do as a supervisor to help manage the well being of your subordinates.
How much did janavee bid on the job : Janavee Construction applies all overhead to jobs on the basis of direct labor hours. How much did Janavee bid on the job
Discuss case in which an employer activities were restricted : Identify and describe a case in which an employer's activities were restricted due to age related rights of employees.
What is the labor efficiency variance : During July 2,000 units were produced using 4,200 hours at $18.30 per hour what is the labor efficiency (quantity) variance (show labels and work)
Discuss problem for a growing start-up organization : Obviously, this is an important problem for a growing start-up organization. Where would you start to determine what is wrong? What would you do to quickly.
Prepare a presentation on the history of homelessness : Prepare a Presentation on the History of Homelessness. This PowerPoint presentation tells the story of homelessness in pictures, with brief text.

Reviews

Write a Review

Accounting Basics Questions & Answers

  On june 30 2009 hardy corporation issued 10 million of its

on june 30 2009 hardy corporation issued 10 million of its 8 bonds for 9.2 million. the bonds were priced to yield 10

  Neville enterprises has a number of fully depreciated assets

Because the assets are fully depreciated, the president of the company decides not to show them on the balance sheet or disclose this information in the notes. Evaluate this procedure.

  Why is a physical count of inventory necessary

Why is a physical count of inventory necessary in a periodic inventory system? Why is it still necessary in a perpetual inventory system?

  Prepare the journal entry to record the bond purchase

On January 1, Rare Bird ltd. purchased 12% bonds dated January 1, with a face amount of $20 million. Prepare the journal entry to record the bond purchase

  How financial system links these given people together

Some people have money; some people need money.- Explain how the financial system links these people together.

  Standard deviation of all possible sample proportions

The standard deviation of all possible sample proportions increases as the sample size increases.

  Calculate the value of the developed technology

Calculate the value of the developed technology, reported by Parsons as an acquired identifiable intangible asset

  Declared the annual 2011 10 per share dividend on preferred

elizabeth company reported the following amounts in the stockholders equity section of its december 31 2010 balance

  Peg co leased equipment from howe corp on july 1 2013 for

peg co. leased equipment from howe corp. on july 1 2013 for an eight- year period expiring june 30 2021. equal payments

  For a major university match each cost in the following

for a major university match each cost in the following table with the activity base most appropriate to it. an

  What is your interpretation of operating leverage

What is your interpretation of operating leverage? Is it relevant? Can you estimate it from a traditional GAAP accounting income statement

  Explain what conditions must be present for alcenon

Give a report for Alcenon's management to explain what conditions must be present for Alcenon to be able to account for this lease as an operating lease

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd