Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pls answer ASAP Case Study: Job Cost Sheet, Preparation Quotations and fixing sale price 1. A factory uses a job costing system. The following data

pls answer ASAP

image text in transcribed Case Study: Job Cost Sheet, Preparation Quotations and fixing sale price 1. A factory uses a job costing system. The following data aro available from the books at the year end in on 31st March 20 p. Required: A. Prepare a job cost sheet showing the prime cost, works cost, production cost, cost of sales and sal value. B. In the year \\( 2007-\\phi 8 \\), the factory has received an order for a number of jobs. It is estimated that direct materials would be Rs. 240,0000 and direct labor would cost Rs.150,0000. What would be price for these jobs if the factory intends to earn the same rate of profit on sales, assuming that selling and distribution overheads have gone up by \15. The factory recovers factory overhead percentage of direct wages and administrative and selling and distribution overhead as a percenta of works cost, based on the cost rates prevalent in the previous year. Case Study: Job Cost Sheet, Preparation Quotations and fixing sale price 1. A factory uses a job costing system. The following data aro available from the books at the year end in on 31st March 20 p. Required: A. Prepare a job cost sheet showing the prime cost, works cost, production cost, cost of sales and sal value. B. In the year \\( 2007-\\phi 8 \\), the factory has received an order for a number of jobs. It is estimated that direct materials would be Rs. 240,0000 and direct labor would cost Rs.150,0000. What would be price for these jobs if the factory intends to earn the same rate of profit on sales, assuming that selling and distribution overheads have gone up by \15. The factory recovers factory overhead percentage of direct wages and administrative and selling and distribution overhead as a percenta of works cost, based on the cost rates prevalent in the previous year

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

Investments An Introduction

Authors: Herbert B Mayo

9th Edition

324561385, 978-0324561388

More Books

Students also viewed these Finance questions

Question

Explain how the output from infinite loading is used.

Answered: 1 week ago