sharp trophies inc uses a job order cost system for determining the cost to manufact 647614

Sharp Trophies Inc. uses a job order cost system for determining the cost to manufacture award products (plaques and trophies). Among the company’s products is an engraved plaque that is awarded to participants who complete an executive education program at a local university. The company sells the plaque to the university for $75 each.

Each plaque has a brass plate engraved with the name of the participant. Engraving requires approximately 6 minutes per name. Improperly engraved names must be redone. The plate is screwed to a walnut backboard. This assembly takes approximately 3 minutes per unit. Improper assembly must be redone using a new walnut backboard.

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During the first half of the year, the university had two separate executive education classes. The job cost sheets for the two separate jobs indicated the following information:

Job 103

March 4

 

 

 

Cost per Unit

Units

Job Cost

Direct materials:

 

 

 

Wood

$20.00/unit

30 units

$ 600.00

Brass

18.00/unit

30 units

540.00

Engraving labor

40.00/hr.

3 hrs.

120.00

Assembly labor

28.00/hr.

1.5 hrs.

42.00

Factory overhead

30.00/hr.

6 hrs.

180.00

 

 

 

$1,482.00

Plaques shipped

 

 

/ 30

Cost per plaque

 

 

$ 49.40

Job 116

April 15

 

 

 

Cost per Unit

Units

Job Cost

Direct materials:

 

 

 

Wood

$20.00/unit

25 units

$ 500.00

Brass

18.00/unit

25 units

450.00

Engraving labor

40.00/hr.

4 hrs.

160.00

Assembly labor

28.00/hr.

2 hrs.

56.00

Factory overhead

30.00/hr.

4 hrs.

120.00

 

 

 

$1,286.00

Plaques shipped

 

 

/ 20

Cost per plaque

 

 

$ 64.30

a. Why did the cost per plaque increase from $49.40 to $64.30?

b. What improvements would you recommend for Sharp Trophies Inc.?

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