aBbCc AaBbCel AaBbCc AaBb( Subtitle Body Text No Spacing Heading 10 Styles Find Replace Select 2 Editing QUESTION 5: Job + ABC costing [30 marks] Celebration Cakes, are a small boutique celebration cake making business located on the Gold Coast, Queensland, Australia. They currently use a job costing system to manage and track the cost of their cake orders. This month they are received three orders. Each cake order is tracked using a unique customer ID number. The materials and labour that have been used for each cake order is outlined below. Remember each order may include more than one cake. Cost Summary per Cake Order 8000 8001 8002 Total Direct Materials $200 $2000 $380 $2 500 Direct Labour 5120 5500 $210 $830 The budgeted overhead cost for the business for the year is 55 000 and it is to be allocated based on total labour dollars. The budgeted total labour cost for the year is $10 000. Required: 1. Based on the information provided, calculate the total cost of each cake order using an estimated overhead allocation rate. [2.5 marks). 2. Actual overhead for the month amounted to $400. Close the over-applied or under applied overhead to cost of sales. (2.5 marks). 3. Cake order 8000 and 8001 were completed in the month, picked up and paid for by the customer, Job 8002 is still being finished and due to be completed next month. Review the journal entries prepared and identify four (4) errors and provide the correction. [10 Focus 27C naBbCc AaBbCc AaBbCc AaBb( Subtitle Body Text No Spacing Heading 1 Styles QUESTION 5: Job ABC costing [30 marks]] Find Replace Select Editing Celebration Cakes, are a small boutique celebration cake making business located on the Gold Coast, Queensland, Australia. They currently use a job costing system to manage and track the cost of their cake orders This month they are received three orders. Each cake order is tracked using a unique customer ID number. The materials and labour that have been used for each cake order is outlined below. Remember each order may include more than one cake. Cost Summary per Cake Order 8000 8001 8002 Total Direct Materials 5200 52000 5380 $2 580 Direct Labour $120 $500 5210 $830 The budgeted overhead cost for the business for the year is $5 000 and it is to be allocated. based on total labour dollars. The budgeted total labour cost for the year is $10.000. Required: 1. Based on the information provided, calculate the total cost of each cake order using an estimated overhead allocation rate. [2.5 marks]. 2. Actual overhead for the month amounted to $400. Close the over-applied or under- applied overhead to cost of sales. [2.5 marks). 3. Cake order 8000 and 8001 were completed in the month, picked up and paid for by the customer, Job 8002 is still being finished and due to be completed next month. Review the journal entries prepared and identify four (4) errors and provide the correction. [10 Focus 27C 6