Assist in calculating the job cost. A business operates a job costing system and has the aim of making a net profit of 30% of
Assist in calculating the job cost.
A business operates a job costing system and has the aim of making a net profit of 30% of net sales. Cost estimates for one particular job are as follows:
Direct materials: 80 Kg at $5 per kg
Direct Labour:40 hours at $6 per hour
The total overheads are budgeted at $120,000 and are absorbed on the basis of direct labor hours. The budgeted labor hours are 50,000.
What price should be quoted for this job (to the nearest $)?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Job cost sheet Description Amount in Di...
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta
16th edition
978-0133058819, 9780133059748, 133058816, 133058786, 013305974X , 978-0133058789
