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B. Job No. 8984, relates to an order for a custom double king bed set. The data for Job No. 8984 is as follows:
B. Job No. 8984, relates to an order for a custom double king bed set. The data for Job No. 8984 is as follows: Direct materials Department 1 RM700 Department 2 RM500 Department 3 RM300 Direct wages 45hours@RM12 50 hours RM15 20 hours @RM10 Machine hours 20 hours 10 hours 5 hours The production overhead absorption rates are as follows: Department 1 Department 2 Department 3 RM5 per machine hour RM6 per direct labour hour 5% of prime cost Other costs relating to Job No. 8984 are: 1. Administrative expenses worth RM150 2. Selling and distribution expenses based on 15% of production cost 3. Hire of special machine value at RM550. 4. Calculate the selling price, given the profit margin is 25% Required: Prepare job cost sheet for the Job No 8984. Show clearly the prime cost, production cost, total cost and selling price.
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