Answer to Question #327901 in Accounting for MHK

Question #327901

Following information has been extracted from costing record of Abdul Engineering works in respect of Job No. 101.


Material Rs.5,800


Wages:


Department A 100 hours @ Rs. 5 per hour


Department B 200 hours @ Rs. 3 per hour



Overhead for the two department are estimated as follows:


Variable Overhead


Department A Rs.10,000 for 5,000 direct labour hours


Department B Rs.30,000 for 10,000 direct labour hours



Fixed Overheads: Estimated at Rs.50,000 for 50,000 normal working hours.



Required:


Calculate the cost of Job No. 101 and calculate the price to be charged so as to given a profit of 20% on selling price.

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