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(solution) Progressive Painting Company (PPC) is a successful company in


Progressive Painting Company (PPC) is a successful company in commercial and residential painting. PPC has a variety of jobs: new construction, repair and repainting existing structures, and restoration of very old buildings and homes. The company is known for the quality and reliability of its work, and customers expect to pay a little more for those benefits. One of the company?s core values is sustainability, and it insists on using the most environmentally friendly paints and materials in its work; it has refused jobs where the client required a more environmentally harmful paint than PPC thought was appropriate for the application. The company?s commitment to sustainability has lost PPC some jobs, but it has also attracted a loyal and growing customer base.

    The company uses job costing and applies overhead on the basis of direct labor hours. Overhead for the company consists of painting equipment, trucks, supervisory labor, supplies, and administrative operation costs. The total budgeted costs for the year are shown below

 

 

Budgeted Data

Direct materials                      $2,970,000

Direct labor hours                     35,000

Direct labor dollars                 $785,000

Gallons of paint                       27,000

Total overhead                       $367,500

 


 

PPC has just completed two jobs:

 

Job       Direct Materials      Gallons of Paint      Direct Labor Hours      Direct Labor Cost

Prevette      $4,500                        32                              48                             $890

Harmon        5,300                         46                              72                             1,450

 

Required:

1.

Determine the total cost of each job. (Do not round intermediate calculations. Round your final answers to 2 decimal places.

 

               Total Job Cost

Prevette

Harmon


1

 

Job

 

DM

 

DL

 

4,500 $

 

Prevette $

 

5,300 $

 

Harmon $ 2.00 FOH

 

Total

 

890 $

 

504 $

 

5,894

 

1,450 $

 

756 $

 

7,506

 


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