Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 4 (13 Marks) Hier Pvt. Ltd on November 15th 2020 received an order from National Pvt. Ltd for installation of central air- conditioning system
Question 4 (13 Marks) Hier Pvt. Ltd on November 15th 2020 received an order from National Pvt. Ltd for installation of central air- conditioning system for a contract of Rs. 2 million. Job no. 434-NP was allotted and manufacturing was started on Nov, 21 2000. The cost is charged to the jobs periodically by means of weekly summaries. Following costs were related to job no. 676-PN. Input description Material labor Nov, 23" 115000 120,000 Weekly Summary No, 30th Dec, 7th 134000 147000 140,000 180,000 Dec, 14 150.000 190,000 Total 160,000 210,000 Factory overheads applied at 25% of prime cost. The job was completed on December 14, 2020. Selling expenses are applied to the job @ 4% of contractual price and Administrative expenses are 2% of contractual price. Required Prepare a job cost sheet from above information
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started