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. Required: 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 1 Page 1 # $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