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You are to prepare a job cost sheet for a single-family home under construction. List four...

You are to prepare a job cost sheet for a single-family home under construction. List four items of both direct materials and direct labor. Explain how you think overhead should be applied.

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Answer #1

Four items of direct materials for a single family home under construction are:

Cost of cement used, cost of bricks used, cost of shingles used and cost of thermo-mechanically treated (TMT) bars.

Four items of direct labor for a single family home under construction are:

Cost of foreman, cost of fitter, cost of welder and cost of pipe fitter.

Overheads are those costs that are neither direct materials nor direct labor. In case of a construction project like constructing a single family home the method of applying overheads starts with selecting a suitable allocation basis. The allocation basis can be total direct labor hours or any other suitable metric. The next step is to determine an allocation method. In case of constructing a single family home a ‘proportion between jobs’ method will be the most suitable method. This is because the making of a house involves different types of jobs.

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