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QUESTION 2 [25] Erundu Limited uses a job order costing system. Only three jobs were worked on during the past month. The data for these
QUESTION 2 [25] Erundu Limited uses a job order costing system. Only three jobs were worked on during the past month. The data for these jobs were as follows: Details Job A10 Job B15 Job C20 Opening WIP R26 800 R42 790 RO Direct material added during the month R17 275 RO R18 500 Direct labour for the month R14 500 R3 500 R24 000 The manufacturing overheads applied to the three jobs for the month were R126 000 and overheads were applied on the basis of direct labour cost. Required: a) Calculate the amounts of manufacturing overheads to be added to each of the jobs for the month. b) Calculate the total cost of each of the jobs for the month. c) Only Job B15 was completed and delivered to the customer during the month. The company's profit margin on cost price is 40%. What is the selling price of Job B15? d) What is the value of work-in-process at the end of the month
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