Question
Hashim Engineering Works produces special machines made to customer specifications. The following data pertain to Job Order No. 987: Customer: Zeeshan Machine ShopDate started: 05/4/2020
Hashim Engineering Works produces special machines made to customer specifications. The following data pertain to Job Order No. 987:
Customer: Zeeshan Machine ShopDate started: 05/4/2020
Customer's Order No.: C696Date finished: 05/18/2020
Dated: April 27Total job cost: ?
Description: 18 drilling unitsSales price: 3,268,000
Material Requisition:
Date
Requisition #
Cost
11 May
978
PKR 368,000
18 May
1,060
PKR 208,000
Job Time Sheet:
Date
Department
Hours
Rate/hour
11 May
1
600
PKR 656
11 May
2
300
PKR 640
18 May
1
400
PKR 656
18 May
2
140
PKR 640
Machine Hour:
Date
Department
Hours
11 May
2
200
18 May
2
120
FOH cost is applied at PKR 320 per direct labor hour in department 1 and PKR 288 per machine hour in department 2. Marketing and administrative costs are charged to each order at a rate of 10% of the selling price.
Required:
1.Prepare the job order cost sheet.
2.What percentage of profit did the company make on this order?
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Financial Accounting
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
5th edition
1259914895, 978-1259914898
