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Q.3 (CSS-2021, Paper # 1, Part-II, Q. #5) Engine Part am Co. Ltd produces machines as per customer's specifications. The following data pertains to
Q.3 (CSS-2021, Paper # 1, Part-II, Q. #5) Engine Part am Co. Ltd produces machines as per customer's specifications. The following data pertains to job order no. 1122: Description: 6 machines. Material used Deptt. A Direct labor rate Deptt. A Labor hour used Deptt A Direct labor rate Deptt B Labor hour used Deptt.B Machine hours. Deptt B Applied FOH Deptt. A Applied FOH Deptt. B S R of. Week ending 14/08 Rs. 4800 Rs. 40/hour 1200 Rs. 42/hour 600 400 Maso Centre Leoning Rs. 20/labor hour 0333 Rs. 18/ machine hour week ending 21/08 Rs.2600 Rs. 40/hour 40/hour Rs. 42/hour 58 280 280 240 Marketing and administrative costs are charged to each order @ 20% of the cost to manufacture. Rs. 20/labor hour Rs. 18/ machine hour Required: Prepare job order cost sheet. Calculate sales price of the job, assuming that it has been contracted with a mark-up of 40% of cost. (20 Marks)
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