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Word File Edit View Insert Format Tools Table a 8 Sat Oct 23 6:40 PM Window Help w Inter Ltd - question - ACF322 - CT1 - AY202122 (1) References Mailings Review View Acrobat Table Design S 5D Draw Design Layout Q Search in Document Home Insert Home Insert Layout 9+ Share a J60 Times New R... 12 -A- A- ka 4K Video Downloader A AaBbCcDdE | AaBbCcDdE AaBbCcDc AaBb CcDdE No Spacing Heading 1 1 Heading 2 Paste BI V abe X X A A A Normal Sensitivity Styles Pane 56 57 58 59 60 . Accrued Total cu Long-term Common Retained Total liabiliti QuickBooks Mac 2021 61 62 63 64 65 Inter Ltd is based in Belfast. The company operates a job order costing system. An opportunity has arisen to quote for a large job and since there is surplus capacity management are keen to submit a quote. The specification is such that it will involve using internal departments X and Y. The price worked out by the junior accountant for the job is as follows: Documents Required Quotation for new job Using the infor for short-term each of the six / 25,000 Direct material A Direct material B Note 1 1 Note 2 (1,000 units @ /25 per unit) (300 units @ /10 per unit) 3,000 Images Direct labour Note 3 (1,875 hours @ /20 per hour) 37,500 Department Department Y Note 4 Note 5 (400 hours @ /30 per hour) (200 hours @ /50 per hour) 12,000 10,000 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 PDF Documents Note 6 5,000 Machine - Depreciation (Cost less scrap value / useful life) 6/12 months usage on the contract Estimating time Travelling expenses Note 7 Note 8 (50 hours @ /100 per hour) (as per invoices and receipts) preadsheet 5,000 600 98,100 9.810 Note 9 Administration overheads Total cost Profit 10% of quotation price - standard company policy 107,910 32.373 Other Problem Note 10 30% mark up on total cost - standard company policy Quotation price 140.2831 Note 1: This is a regular stock item. The current stockholding is more than sufficient to complete the job. Inter Ltd uses FIFO to charge out materials. The replacement cost is /20 per unit. creen Shots Note 2: There are 400 units in stock. This material has been slow moving and is the residue of a batch bought two years ago when the cost was /10 per unit. The replacement price has now risen to /24 per unit. If the company does not use the material for this contract, there are two alternatives. It could be sold off at a price of /18 per unit, or it could be used as a subsitute for another regularly used material, which costs /20 per unit. HW42 Page 1 of 2 Note 3: The workers in Inter Ltd are paid an hourly rate under a quaranteed wade a 754 words English (United Kingdom) O Focus PrW Ai Psd qb A E E 110% . Word File a 8 Sat Oct 23 6:40 PM Edit View Insert Format Tools Table S5 5 E Home Insert Draw Design Layout Window Help w Inter Ltd - question - ACF322 - CT1 - AY202122 (1) References Mailings Review View Acrobat Table Design Q Search in Document Home Insert Layout 9+ Share a J60 4K Video Downloader A Paste Times New R... 12 -A- A Aa BI U abe X X A A A Note 3! Sensitivity Styles Pane 56 57 58 59 60 . Accrued Total cu Long-term Common Retained Total liabiliti SI AaBbCcDdE | AaBbCcDdE AaBCcDc AaBbCcDEE Normal No Spacing Heading 1 Heading 2 The workers in Inter Ltd are paid an hourly rate under a guaranteed wage agreement and currently have spare capacity. There will be 1,875 hours worked on the job and the guaranteed wage of the workers is /20 per hour. . QuickBooks Mac 2021 Note 4: 61 62 63 64 65 Documents Required Department X will work on the job for 400 hours. The cost will be charged out at a transfer price of /30 per hour. The charge is made up of: / Estimated variable cost per Machine hour 16 Fixed departmental overhead 8 Departmental profit 6 30 Department X only completes work internally for Inter Ltd. Using the infor for short-term each of the six Images 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 PDF Documents preadsheet Note 5: Department Y is working at full capacity. Inter Ltd treats it as a profit centre and charges it out to other departments at a transfer price of /50. The charge is made up of: / Estimated variable cost per Machine hour 20 Fixed departmental overhead 16 Departmental profit 14 17 50 Currently Department Y's facilities are frequently hired out to other companies at a charge out rate of /75 per hour. There is a steady demand from outside customers for these facilities. Other Problem Note 6: A special machine will be required for the contract. The machine will cost /55,000. It will have an expected useful life of 5 years and an estimate scrap value of /5,000 at the end of 5 years. The machine will be used on the contract for 6 months and have no further use. It can be sold for an estimated /40,000 on completion of the contract. creen Shots Note 7: The estimation time was for the time spent meeting the customer and preparing the quotation. Note 8: HW42 These are the invoices and receipts obtained from the estimating team when they travelled to the customer's premises in Dublin and stayed in an hotel overnight. The hotel has sent in the invoice for the B&B stay and it will be paid in the next scheduled payment run. Focus tv X Pr w Ai Psd qb A Page 1 of 2 754 words English (United Kingdom) E E 110% . 2. o P Word File Edit View Insert Format Tools Table a 8 Sat Oct 23 6:40 PM Window Help w Inter Ltd - question - ACF322 - CT1 - AY202122 (1) References Mailings Review View Acrobat Table Design S 5D Draw Design Layout Q Search in Document Home Insert Home Insert Layout 9+ Share a J60 Times New R... 12 -A- A- ka Aa SI AaBbCcDdE | AaBbCcDdE Aa BbCcDc AaBbCcDdEt 4K Video Downloader A Paste BI U abe X X A , Normal No Spacing Heading 1 Heading 2 Sensitivity Styles Pane 56 57 58 59 60 . Accrued Total cu Long-term Common Retained Total liabiliti 150 Currently Department Y's facilities are frequently hired out to other companies at a charge out rate of /75 per hour. There is a steady demand from outside customers for these facilities. QuickBooks Mac 2021 Note 6: 61 62 63 64 65 A special machine will be required for the contract. The machine will cost /55,000. It will have an expected useful life of 5 years and an estimate scrap value of /5,000 at the end of 5 years. The machine will be used on the contract for 6 months and have no further use. It can be sold for an estimated /40,000 on completion of the contract. Documents Required Using the infor for short-term each of the six Note 7 The estimation time was for the time spent meeting the customer and preparing the quotation. Images Note 8: These are the invoices and receipts obtained from the estimating team when they travelled to the customer's premises in Dublin and stayed in an hotel overnight. The hotel has sent in the invoice for the B&B stay and it will be paid in the next scheduled payment run. 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 PDF Documents Note 9 This is standard practice within Inter Ltd to charge all contracts with 10% for administration overheads. Note 10: This is the standard profit percentage Inter Ltd applies to all work. preadsheet Requirement: (a) Prepare a revised cost estimate, using the relevant costing approach, showing clearly the minimum price that the company should accept for the order. Set out your answer as shown below explaining the rationale (and the calculation, if any) for each cost. / Reason for inclusion / exclusion Other Problem Name of cost Direct material A Direct material B (80 marks) (b) creen Shots Outline five qualitative factors that should be considered by management before a final decision about this job is made. (20 marks) [Total: 100 marks] HW4 2 Page 2 of 2 754 words English (United Kingdom) Focus 3 8 E 2. tv X P Pr w Ai Psd qb A Word File Edit View Insert Format Tools Table a 8 Sat Oct 23 6:40 PM Window Help w Inter Ltd - question - ACF322 - CT1 - AY202122 (1) References Mailings Review View Acrobat Table Design S 5D Draw Design Layout Q Search in Document Home Insert Home Insert Layout 9+ Share a J60 Times New R... 12 -A- A- ka 4K Video Downloader A AaBbCcDdE | AaBbCcDdE AaBbCcDc AaBb CcDdE No Spacing Heading 1 1 Heading 2 Paste BI V abe X X A A A Normal Sensitivity Styles Pane 56 57 58 59 60 . Accrued Total cu Long-term Common Retained Total liabiliti QuickBooks Mac 2021 61 62 63 64 65 Inter Ltd is based in Belfast. The company operates a job order costing system. An opportunity has arisen to quote for a large job and since there is surplus capacity management are keen to submit a quote. The specification is such that it will involve using internal departments X and Y. The price worked out by the junior accountant for the job is as follows: Documents Required Quotation for new job Using the infor for short-term each of the six / 25,000 Direct material A Direct material B Note 1 1 Note 2 (1,000 units @ /25 per unit) (300 units @ /10 per unit) 3,000 Images Direct labour Note 3 (1,875 hours @ /20 per hour) 37,500 Department Department Y Note 4 Note 5 (400 hours @ /30 per hour) (200 hours @ /50 per hour) 12,000 10,000 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 PDF Documents Note 6 5,000 Machine - Depreciation (Cost less scrap value / useful life) 6/12 months usage on the contract Estimating time Travelling expenses Note 7 Note 8 (50 hours @ /100 per hour) (as per invoices and receipts) preadsheet 5,000 600 98,100 9.810 Note 9 Administration overheads Total cost Profit 10% of quotation price - standard company policy 107,910 32.373 Other Problem Note 10 30% mark up on total cost - standard company policy Quotation price 140.2831 Note 1: This is a regular stock item. The current stockholding is more than sufficient to complete the job. Inter Ltd uses FIFO to charge out materials. The replacement cost is /20 per unit. creen Shots Note 2: There are 400 units in stock. This material has been slow moving and is the residue of a batch bought two years ago when the cost was /10 per unit. The replacement price has now risen to /24 per unit. If the company does not use the material for this contract, there are two alternatives. It could be sold off at a price of /18 per unit, or it could be used as a subsitute for another regularly used material, which costs /20 per unit. HW42 Page 1 of 2 Note 3: The workers in Inter Ltd are paid an hourly rate under a quaranteed wade a 754 words English (United Kingdom) O Focus PrW Ai Psd qb A E E 110% . Word File a 8 Sat Oct 23 6:40 PM Edit View Insert Format Tools Table S5 5 E Home Insert Draw Design Layout Window Help w Inter Ltd - question - ACF322 - CT1 - AY202122 (1) References Mailings Review View Acrobat Table Design Q Search in Document Home Insert Layout 9+ Share a J60 4K Video Downloader A Paste Times New R... 12 -A- A Aa BI U abe X X A A A Note 3! Sensitivity Styles Pane 56 57 58 59 60 . Accrued Total cu Long-term Common Retained Total liabiliti SI AaBbCcDdE | AaBbCcDdE AaBCcDc AaBbCcDEE Normal No Spacing Heading 1 Heading 2 The workers in Inter Ltd are paid an hourly rate under a guaranteed wage agreement and currently have spare capacity. There will be 1,875 hours worked on the job and the guaranteed wage of the workers is /20 per hour. . QuickBooks Mac 2021 Note 4: 61 62 63 64 65 Documents Required Department X will work on the job for 400 hours. The cost will be charged out at a transfer price of /30 per hour. The charge is made up of: / Estimated variable cost per Machine hour 16 Fixed departmental overhead 8 Departmental profit 6 30 Department X only completes work internally for Inter Ltd. Using the infor for short-term each of the six Images 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 PDF Documents preadsheet Note 5: Department Y is working at full capacity. Inter Ltd treats it as a profit centre and charges it out to other departments at a transfer price of /50. The charge is made up of: / Estimated variable cost per Machine hour 20 Fixed departmental overhead 16 Departmental profit 14 17 50 Currently Department Y's facilities are frequently hired out to other companies at a charge out rate of /75 per hour. There is a steady demand from outside customers for these facilities. Other Problem Note 6: A special machine will be required for the contract. The machine will cost /55,000. It will have an expected useful life of 5 years and an estimate scrap value of /5,000 at the end of 5 years. The machine will be used on the contract for 6 months and have no further use. It can be sold for an estimated /40,000 on completion of the contract. creen Shots Note 7: The estimation time was for the time spent meeting the customer and preparing the quotation. Note 8: HW42 These are the invoices and receipts obtained from the estimating team when they travelled to the customer's premises in Dublin and stayed in an hotel overnight. The hotel has sent in the invoice for the B&B stay and it will be paid in the next scheduled payment run. Focus tv X Pr w Ai Psd qb A Page 1 of 2 754 words English (United Kingdom) E E 110% . 2. o P Word File Edit View Insert Format Tools Table a 8 Sat Oct 23 6:40 PM Window Help w Inter Ltd - question - ACF322 - CT1 - AY202122 (1) References Mailings Review View Acrobat Table Design S 5D Draw Design Layout Q Search in Document Home Insert Home Insert Layout 9+ Share a J60 Times New R... 12 -A- A- ka Aa SI AaBbCcDdE | AaBbCcDdE Aa BbCcDc AaBbCcDdEt 4K Video Downloader A Paste BI U abe X X A , Normal No Spacing Heading 1 Heading 2 Sensitivity Styles Pane 56 57 58 59 60 . Accrued Total cu Long-term Common Retained Total liabiliti 150 Currently Department Y's facilities are frequently hired out to other companies at a charge out rate of /75 per hour. There is a steady demand from outside customers for these facilities. QuickBooks Mac 2021 Note 6: 61 62 63 64 65 A special machine will be required for the contract. The machine will cost /55,000. It will have an expected useful life of 5 years and an estimate scrap value of /5,000 at the end of 5 years. The machine will be used on the contract for 6 months and have no further use. It can be sold for an estimated /40,000 on completion of the contract. Documents Required Using the infor for short-term each of the six Note 7 The estimation time was for the time spent meeting the customer and preparing the quotation. Images Note 8: These are the invoices and receipts obtained from the estimating team when they travelled to the customer's premises in Dublin and stayed in an hotel overnight. The hotel has sent in the invoice for the B&B stay and it will be paid in the next scheduled payment run. 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 PDF Documents Note 9 This is standard practice within Inter Ltd to charge all contracts with 10% for administration overheads. Note 10: This is the standard profit percentage Inter Ltd applies to all work. preadsheet Requirement: (a) Prepare a revised cost estimate, using the relevant costing approach, showing clearly the minimum price that the company should accept for the order. Set out your answer as shown below explaining the rationale (and the calculation, if any) for each cost. / Reason for inclusion / exclusion Other Problem Name of cost Direct material A Direct material B (80 marks) (b) creen Shots Outline five qualitative factors that should be considered by management before a final decision about this job is made. (20 marks) [Total: 100 marks] HW4 2 Page 2 of 2 754 words English (United Kingdom) Focus 3 8 E 2. tv X P Pr w Ai Psd qb A