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Question 2 (a) A number of companies in different industries are listed below: Bubble gum manufacturing company i) ii) iii) iv) v) Required: Food
Question 2 (a) A number of companies in different industries are listed below: Bubble gum manufacturing company i) ii) iii) iv) v) Required: Food caterer that supplies food for weddings and other special events Elevator production and installation company Gold mining company Printing enterprise that produces posters, books, and pamphlets to order For each company, indicate whether the company is most likely to use job-order costing or process costing and provide justification for each answer. (10 marks) (b) CovidGo Sdn Bhd is a manufacturer of vaccines for the Asian market. The company uses a job-order costing system. The following are the cost estimates for the year 2022: Direct labour-hours Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labour-hour Variable manufacturing overhead cost per machine-hour 140,000 70,000 RM784,000 RM2.00 RM4.00 During the year, Job 777 was started and completed. The following information is available with respect to this job: Direct materials Direct labour cost Direct labour-hours Machine-hours Required: RM175 RM225 15 hours 5 hours CovidGo has for the past years used a plantwide predetermined overhead rate with direct labour-hours as the allocation base. a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 777. c. If CovidGo uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 777? (5 marks)
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