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2nl phary sutcln I0.19 Aceoutivg Total Problem 6 A factory uses a job costing system. The following data ar vailable from the books pertaining to job No. A-5: Materials (direct): 14.60 Kg@ Tk. 2.50 Kg. Wages (direct): Department X 18 hours @ Tk.. 3.50 per hour Department Y 32 hours aTk. 3.00 per hour Budget overhead for the year based on normal capacity is as follows Variable overhead: Department X Tk. 5.400 for 9.000 direct labor hours Department Y Tk. 8.000 for 10.000 direct labor hours Fixed overhead: Total budget direct labor hours for whole factory 22,000 Total budget expenditure Tk. 16.500 Required: (i) Compute the factory overhead rate. (ii) Calculate the total cost of job No. A-5 (iii) Estimate the percentage of profit obtained if the price quoted to the eustomer is Tk. 350 (iv) Suppose the actual fixed overhead costs and direct labor hours used in the factory are Tk. 19.000 and 24.000 hours respectively. then what would be the amount of under applied or over applied?

2nl phary sutcln I0.19 Aceoutivg Total Problem 6 A factory uses a job costing system. The following data ar vailable from the books pertaining to job No. A-5: Materials (direct): 14.60 Kg@ Tk. 2.50 Kg. Wages (direct): Department X 18 hours @ Tk.. 3.50 per hour Department Y 32 hours aTk. 3.00 per hour Budget overhead for the year based on normal capacity is as follows Variable overhead: Department X Tk. 5.400 for 9.000 direct labor hours Department Y Tk. 8.000 for 10.000 direct labor hours Fixed overhead: Total budget direct labor hours for whole factory 22,000 Total budget expenditure Tk. 16.500 Required: (i) Compute the factory overhead rate. (ii) Calculate the total cost of job No. A-5 (iii) Estimate the percentage of profit obtained if the price quoted to the eustomer is Tk. 350 (iv) Suppose the actual fixed overhead costs and direct labor hours used in the factory are Tk. 19.000 and 24.000 hours respectively. then what would be the amount of under applied or over applied?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2nl phary sutcln I0.19 Aceoutivg Total Problem 6 A factory uses a job costing system. The following data ar vailable from the books pertaining to job No. A-5: Materials (direct): 14.60 Kg@ Tk. 2.50 Kg. Wages (direct): Department X 18 hours @ Tk.. 3.50 per hour Department Y 32 hours aTk. 3.00 per hour Budget overhead for the year based on normal capacity is as follows Variable overhead: Department X Tk. 5.400 for 9.000 direct labor hours Department Y Tk. 8.000 for 10.000 direct labor hours Fixed overhead: Total budget direct labor hours for whole factory 22,000 Total budget expenditure Tk. 16.500 Required: (i) Compute the factory overhead rate. (ii) Calculate the total cost of job No. A-5 (iii) Estimate the percentage of profit obtained if the price quoted to the eustomer is Tk. 350 (iv) Suppose the actual fixed overhead costs and direct labor hours used in the factory are Tk. 19.000 and 24.000 hours respectively. then what would be the amount of under applied or over applied?
Transcribed Image Text:2nl phary sutcln I0.19 Aceoutivg Total Problem 6 A factory uses a job costing system. The following data ar vailable from the books pertaining to job No. A-5: Materials (direct): 14.60 Kg@ Tk. 2.50 Kg. Wages (direct): Department X 18 hours @ Tk.. 3.50 per hour Department Y 32 hours aTk. 3.00 per hour Budget overhead for the year based on normal capacity is as follows Variable overhead: Department X Tk. 5.400 for 9.000 direct labor hours Department Y Tk. 8.000 for 10.000 direct labor hours Fixed overhead: Total budget direct labor hours for whole factory 22,000 Total budget expenditure Tk. 16.500 Required: (i) Compute the factory overhead rate. (ii) Calculate the total cost of job No. A-5 (iii) Estimate the percentage of profit obtained if the price quoted to the eustomer is Tk. 350 (iv) Suppose the actual fixed overhead costs and direct labor hours used in the factory are Tk. 19.000 and 24.000 hours respectively. then what would be the amount of under applied or over applied?
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