Question

1. Create a brief explanation of your company and product.

2. Create a JOB COST RECORD for one job in your company including Direct Materials, Direct Labor, and Manufacturing Overhead, and correct total costs.

Answer 1

RED OLIVE Pvt Ltd is the premium olive oil production company situated in Las vegas.Red olive have a sale of $400000 per year.it have a big refinaary in las vegas and large supply chain market across in USA and several countries including canada and india.

Production Process

Red olive collect Olive from farmers and local farms.then strat the proces including separatin oli from olive to packing.Red olive have 18 refineries across the part of america. and the head office located in Las vegas.

JOB COST RECORD JOB NUMBER :112543 UNIT COMPLETED :1000 Direct materials Direct Labour Manufacturing overhead Request no 1 2 3 Amount 350 250 350 Ticket 12 13 15 14 Hours 5 6 7 8 Amount 10 20 30 40 Hours 24 Amount 10 Rate 240 Total 950 24 100 Direct Material 950 Direct Labour 100 Manufacturing Overhead   240 Total cost 1290