The expenses shown below were incurred for a job in AJMASS Company during the year ended on 31 March 2020, Direct Materials Direct Wages Chargeable Expenses Factory Overheads Selling & Distribution Overheads Administrative Overheads $ 30,000 40,000 10,000 20,000 20,000 30,000 The total price for the above job was $180,000. Mosquired: You are required to prepare a statement showing the profit earned from the job during the year ended 31 March 2020, as well as an estimated price of a job which is to be executed in the year 2020-21. You should charge the same percentage of profit on sales as was the case for the the year 2020-221. Materials, wages, and chargeable expenses will be required at $50.000, $70,000 and $20,000. respectively, for the job. The various overheads should be recovered on the following basis while calculating the estimated price: 1. Factory overheads as a percentage of direct wages 2. Administrative and selling and distribution overheads as a percentage of factory Cost