Jan. 5 Sold and shipped Job No. 403 to the appropriate customer. All sales are on account 1/10, net 30 days, FOB shipping point. Bath Designs Inc. marks up all work by 35% of the job cost. Refer to the individual Job Order Cost Sheet for the total cost of the job and multiply the total cost by 135% to determine the selling price for each job.
Bath Designs, Inc. maintains a perpetual inventory system. Each time a sale is made to a customer, you must debit Cost of Goods Sold and credit Finished Goods for the cost of the job.
Job Cost Record
Job Number: 403 Date Promised: Jan 11
Customer Name: Seng Contractors Date Started: Dec 18
Job Desc.: 50 closet units Date Completed: Jan 4
Dec. 18 Req. No 668 DM $8736
Dec. 31 FOH 125% of DL cost $9325
Dec. 31 DL Time Tickets 124, 125 $7460
Jan. 4 Req. No 679 DM $3624
Jan. 4 FOH 125% of DL cost $10150
Jan. 4 DL Time Tickets 129 $8120
Totals: DM $12360 DL $15580
Overall Cost Summary
TTL JOB COSTS $47415
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