Project 1 Prepare job costing information for the following: Joseph runs an electrical contracting business and employs six electricians. He is only involved in supervision but on occasion will assist if needed. He charges direct labour hours at $45.00 per hour. Three of Josephâs electricians are working on a job that involves wiring and fitting fixtures in a new house for Mr and Mrs Fleet. All materials and fixtures used have come from inventory. Each electrician spends half an hour at the beginning of each day on administration tasks and travels for half an hour to get to the job. They also spend half an hour at the end of the day undertaking administrative tasks. If they finish a job late afternoon and there is not enough time to start another they return to base and fill the time with other administrative tasks. Geoff Smith is responsible for the initial wiring. He calculates that he will need two rolls of electrical cabling and that it will take him 12 hours to complete the job. He works on the job on 15/10/11 and 18/10/11. He completes a materials requisition form and the cost per roll of electrical cable is $85.00. Peter Jones is responsible for fitting all fixtures. He has to fit 23 double power points and 15 down lights. Takes seven hours, so he works for longer to get it done in one day (there are no overtime penalties to worry about). He works on the site on 18/10/11. His materials requisition form shows that the power points are $7.50 per unit and the down lights are $25 each. Brian Brown is the senior electrician and he wired the switchboard, the circuit breakers and checked the work undertaken by the others. He expected this to take about four hours but he was there for seven hours because of problems encountered. He began his work on 22/10/11 and completed the remaining four hours on 25/10/11. The switchboard cost was $190.00 and the circuit breakers were $19.00 each. Twelve were needed. Brian took the afternoon of the 22nd and the morning of the 25th off for recreation leave. He went straight from the job to take his leave and went to the job from his leave without going to the workshop. Recreation leave is costed as administration. Each electrician normally starts at 8.30 am and has lunch from 12.30 until 1.00 pm. At the beginning of the financial year Joseph examined all of his overhead costs; vehicle leases, rent on premises, inventory, replacement of specialised equipment, depreciation, indirect labour, indirect materials, salary on-costs and insurance. These include his fixed and his variable costs. He calculated overall costs to be $662,500. 1 If each of his six electricians worked 46 weeks at 40 hours per week, what are his overhead costs?

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Project 1 Prepare job costing information for the following: Joseph runs an electrical contracting business and employs six electricians. He is only involved in supervision but on occasion will assist if needed. He charges direct labour hours at $45.00 per hour. Three of Josephâs electricians are working on a job that involves wiring and fitting fixtures in a new house for Mr and Mrs Fleet. All materials and fixtures used have come from inventory. Each electrician spends half an hour at the beginning of each day on administration tasks and travels for half an hour to get to the job. They also spend half an hour at the end of the day undertaking administrative tasks. If they finish a job late afternoon and there is not enough time to start another they return to base and fill the time with other administrative tasks. Geoff Smith is responsible for the initial wiring. He calculates that he will need two rolls of electrical cabling and that it will take him 12 hours to complete the job. He works on the job on 15/10/11 and 18/10/11. He completes a materials requisition form and the cost per roll of electrical cable is $85.00. Peter Jones is responsible for fitting all fixtures. He has to fit 23 double power points and 15 down lights. Takes seven hours, so he works for longer to get it done in one day (there are no overtime penalties to worry about). He works on the site on 18/10/11. His materials requisition form shows that the power points are $7.50 per unit and the down lights are $25 each. Brian Brown is the senior electrician and he wired the switchboard, the circuit breakers and checked the work undertaken by the others. He expected this to take about four hours but he was there for seven hours because of problems encountered. He began his work on 22/10/11 and completed the remaining four hours on 25/10/11. The switchboard cost was $190.00 and the circuit breakers were $19.00 each. Twelve were needed. Brian took the afternoon of the 22nd and the morning of the 25th off for recreation leave. He went straight from the job to take his leave and went to the job from his leave without going to the workshop. Recreation leave is costed as administration. Each electrician normally starts at 8.30 am and has lunch from 12.30 until 1.00 pm. At the beginning of the financial year Joseph examined all of his overhead costs; vehicle leases, rent on premises, inventory, replacement of specialised equipment, depreciation, indirect labour, indirect materials, salary on-costs and insurance. These include his fixed and his variable costs. He calculated overall costs to be $662,500. 1 If each of his six electricians worked 46 weeks at 40 hours per week, what are his overhead costs?

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Out of the following choices select which of the followingobservations could lead to a testable hypothesis?

A. A plant grows three inches faster per day when placed on awindow sill than it does when placed on a coffee table in themiddle of a living room.

B. The teller at the bank with brown hair and brown eyes and istaller than the other tellers.

C. When Sally eats healthy foods and exercises regularly, herblood pressure is 10 points lower than when she does not exerciseand eats fatty foods.

D. The Italian restaurant across the street closes at 9 pm butthe one two blocks away closes at 10 pm.

E. For the past two days the clouds have come out at 3 pm and ithas started raining at 3:15 pm. F. George did not sleep at all thenight following the start of daylight savings

part b: In the statements and questions asked below select allthe questions that had a "No" answer.

A. A dad holds five coins in his hand. He tells his son that ifhe can guess the amount of money he is holding within 5% error hecan have the money. The son guesses that he is holding 81 cents.The dad opens his hand and displays 90 cents. Did the son guessclose enough to receive the money from his father?
B. A locomotive train is on its way from Chicago, IL to Madison,WI. The trip is said to last 3.15 hours. When the train arrives inMadison the conductor notices it actually took them 3.26 hours. Thetrain company prides itself on always having its trains to thestation within a 3% error of the expected time. Will the traincompany live up to its reputation on this trip?
C. A coach tells his little league players that hitting a .275batting average, within 7% percentage error, means that they had areally great season. Seven year old Tommy ended the season hittinga .258 batting average. According to his coach, did he have a greatseason?

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ADM 2302 Lecture Notes - Lecture 6: Shadow Price

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