Question 1 Assignment 2 Jodein Berhad is a specialist engineering company. The following costs relate to batch JB9002: Direct materials Direct labour: RM10,277 Dept X 610 hours at RM4.50 per hour Dept Y 820 hours at RM5.00 per hour 500 units were produced in batch JB9002. You are informed that: (1) Factory overheads are absorbed on the basis of direct labour hours. Budgeted factory overhead for the current year is RM80,000, three fifths of which relate to Department X. Budgeted direct labour hours are 30,000 hours, one third of which relate to Department Y. (2) The company uses a cost plus system for establishing selling prices and expects a gross profit (sales value minus factory cost) of 25% of selling price. (3) Total administration, selling and distribution overheads are absorbed at 10% of selling price. Required (a) For batch JB9002: (i) Prepare a statement to show the total cost of production. marks) (ii) Calculate the selling price per unit. marks) (10 (iii) Prepare a statement to show the profit of the batch. marks) (4 (4 (b) State briefly how batch costing differs from job costing. marks) marks) (2 (Total 20