Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please try to solve this asap C & T, a car company produces various types of car in the market. The company got a contract

please try to solve this asap
image text in transcribed
C \& T, a car company produces various types of car in the market. The company got a contract to supply 10 units of car model ABC (Job 110 ) to H& T Sdn Bhd at a total selling price of $3,000,000. Direct raw materials and direct labour are 30% and 20% of total selling price respectively. C \& T used machine hours as the basis to allocate its overhead cost to Job 110 and machine hours used by Job 110 is 2,000 hours. Total machine hours used for all jobs including Job 110 are 10,000 hours. Actual manufacturing overhead cost is 50% of total selling price. Calculate the following: a) Unit cost rate (5 Marks) b) Indirect cost for Job 110 c) Total cost for Job 110 d) Gross profit for Job 110 (15 Marks) (10 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Auditing: Principles And Techniques

Authors: Richard L. Ratliff, W. Wallace, Walter B. Mcfarland, J. Loeboecke

1st Edition

0894131672, 978-0894131677

More Books

Students also viewed these Accounting questions

Question

love of humour, often as a device to lighten the occasion;

Answered: 1 week ago

Question

orderliness, patience and seeing a task through;

Answered: 1 week ago

Question

well defined status and roles (class distinctions);

Answered: 1 week ago