A manufacturing firm uses a job costing system which is also used for assisting in estimating price for new jobs. The folowing information has been collected forfor the purpose of quoting the price to a customer.ParticnlarsMateralRx 200Rs 300Labour hours required m each slepartmentMachining departmentAssembly departmeatFinishing departmentRates of pay for direct labourMachining departnmentAssembly depautmentFinshng departmentMachine hours required m cach departmentMachining departmentAssembly departmeatFactery overheads are recovered on the following basisMachming departmentAssembly departmeatFinishing department603020401020Ks. 1.30 per hourRs. 0.90 perthoutRx 1 20 per hour801001010R. 150 per machine houtRs. 2.50 per direct labour hourRs 200 per direct labour hour20% of factory cost s added for general admmastration and a furthes 10% of the total cost sadded for profit You ue requited to calculate the prices to be quoted for the yobs

The total cost of job ls can be assigned based on various aspects depending on labor hours or…

A manufacturing firm uses a job costing system which is also used for assisting in estimating price for new jobs. The following information has been collected for the purpose of quoting the price to a customer. Particulars Materal Rx 200 Rs 100 Labour hours roquired im each deprtment Machining department Assembly departmeat Finishing department Rates of pay for direct labour Machining departnent Assembly department Finshng department Machine hours sequired m each department Machining department Assembly departmrat Factery overheads are recovered on the following basis Machming department Assembly departmeat Finishing department 60 30 20 40 10 20 Ra. 1.30 per hour Rs. 0.90 per hout Rx 120 per hour 80 10 100 10 R150 per machine hour Rs. 2.50 per direct labour hour Rs.2.00 per direct labour bour 20% of factory cost s added for general admmistration and a furthes 10% of the total cost is added for profit. You ate requred to calculate the prices to be quoted for the jobs

A manufacturing firm uses a job costing system which is also used for assisting in estimating price for new jobs. The following information has been collected for the purpose of quoting the price to a customer. Particulars Materal Rx 200 Rs 100 Labour hours roquired im each deprtment Machining department Assembly departmeat Finishing department Rates of pay for direct labour Machining departnent Assembly department Finshng department Machine hours sequired m each department Machining department Assembly departmrat Factery overheads are recovered on the following basis Machming department Assembly departmeat Finishing department 60 30 20 40 10 20 Ra. 1.30 per hour Rs. 0.90 per hout Rx 120 per hour 80 10 100 10 R150 per machine hour Rs. 2.50 per direct labour hour Rs.2.00 per direct labour bour 20% of factory cost s added for general admmistration and a furthes 10% of the total cost is added for profit. You ate requred to calculate the prices to be quoted for the jobs

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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compute the customer level operating income of this customer for abc corporation using the companys activity based costing system
Predetermined Factory Overhead Rate Novus Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $652,100 476,000 48,700 135,500 24,600 19,000 13,000 56,100 7,200 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $14 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round your answer to the nearest cent. per direct labor hour $1,432,200
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