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ABC Limited is a company that produces machinery to customer order. The budget for 2020 was: Direct Manufacturing labour 42,000 labour hours Manufacturing overhead $441,000
ABC Limited is a company that produces machinery to customer order. The budget for 2020 was: Direct Manufacturing labour 42,000 labour hours Manufacturing overhead $441,000 Manufacturing overhead is allocated to individual customer orders based on direct labour hours and determined the predetermined overhead rate to be $10.50 per labour hour. The company determines its selling price by adding a 35% profit margin onto the cost of the order. The company has started on a new job (Job nr. 1556 for CCD Construction to build 3 machines to be used in future constructions) on 1 September 2020 and completed the job on 30 September 2020. The following information about job 1556 was extracted from the accounting system. 1 September Steel and aluminum issued for Job 1556 $5,500 6 September 24 hours Labour hours for job 1556 payable at $15 per hour 9 September Steel issued for job 1556 $3,750 15 September Labour hours for job 1556 payable at $14 40 hours per hour 21 September Parts issued for job 1556 $1,150 30 September 21 hours Labour hours for job 1556 payable at $16 per hour Complete the job cost record (in Excel) for this job. Copy and paste your job sheet record from Excel into the answer box
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