Question 24 Byrne Ltd has produced equipment to order, details relating to its budget for the coming year are set out below: Dept 1 Dept 2 Dept 3 Budgeted production overhead Budgeted labour rate (per hour) 189,000 11.30 Hrs 6,750 50,400 257,040 15.30 177,188 8.25 Hrs Hrs Budgeted machine hours Budgeted labour hours 13,200 37,800 20,250 5,160 The following information relates to production of equipment specifically requested by a customer, tracked by Byrnes Ltd via Job number EQ2002 is given below: Dept 1 715 840 180 Dept 2 Dept 3 Direct materials Labour hours Machine hours 930 450 263 2,070 300 300 Requirement Calculate suitable pre-determined overhead absorption rate for each department 2. Calclate the total production cost of Job number EQ2002 3. Calculate the suggested selling price of Job number EQ2002 if profit is to be a) 35% of selling price (margin of 35%) 35% of cost (mark up of 35%) b)