Question
ABC manufactures and produces the gauntlet. The company incurs the following costs; Direct materials is 3.00 per gauntlet. It take 3 hours to produce
ABC manufactures and produces the gauntlet. The company incurs the following costs; Direct materials is 3.00 per gauntlet. It take 3 hours to produce the gauntlet and labour is paid at 7.00 an hour. Rent and bills for the space used to produce 800 gauntlets costs 750 per year. The company intend to make a 15% profit after all costs. Prepare a standard cost card for 1 gauntlet. Show your answers to 2 decimal places with no sign Standard Cost Card Direct Materials Direct Labour Prime Cost Overheads Total Cost Profit Selling Price
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Intermediate Accounting
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
11th edition
978-0538467087, 9781111781262, 538467088, 1111781265, 978-0324659139
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