Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. TLC Company, produces various types of air con in the market. The company got a contract to supply 10 units of air con

image text in transcribed

3. TLC Company, produces various types of air con in the market. The company got a contract to supply 10 units of air con model ABC (Job 650) to HTT Sdn Bhd at a total selling price of $3,000,000. Direct materials and direct labour are 30% and 20% of total selling price respectively. TLC Company used machine hours as the basis to allocate its overhead cost to Job 650 and machine hours used by Job 650 is 2,000 hours. Total machine hours used for all jobs including Job 650 are 10,000 hours. Actual manufacturing overhead cost is 50% of total selling price. Calculate the following: a) b) c) Predetermined overhead rate Overhead applied for Job 650 Total cost for Job 650 (10 Marks) (10 Marks) (15 Marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting An Introduction to Concepts Methods and Uses

Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil

10th Edition

1111822239, 324639767, 9781111822231, 978-0324639766

More Books

Students also viewed these Accounting questions

Question

Why is goal congruence important?

Answered: 1 week ago