Section Twe Question One Macken Led is a manufacturing company with three Departments. A. B and C The following are the monthly budgeted overheads Department Variable Fird 1 A B 84.000 52.000 100.000 36.000 32,000 8.000 Budgeted hours for the month are Department Hours 800 B 1.200 400 The wage rates are Department A - N90 per hour Department B - N60 per hour Department - NSO per hour General administration overheads are expected to be 180,000 for the month The following relates to Job No 432A, received from Joktan Lad Material Costs: 80 rolls @ N350 per roll. Labour Department Hours 50 B 120 26 A You are required to: a) Calculate the variable and fixed overhead absorption rates for cach department in direct labour hours b) Calculate the administration overhead absorption rate in direct labour hours c) Calculate the selling price of the job if the profit is set 24 of selling price Question Two From the following details of stores receipts and issues of material "DE in a manufacturing unit, prepare the Store Ledger card using FIFO Method of valuation Now. 1 Opening inventory 2,000 units & N5.00 each