Job Costing -TAccounts Practice Problem 8 A furniture-making business manufactures quality furniture to customers' orders. It has three production departments (A, B and C) which have overhead absorption rates (per direct labour hour) of $12.86, $12.40 and $14.03 respectively. Two pieces of furniture are to be manufactured for customers. Direct costs are as follows. Job XYZ $154 20 hours dept A 12 hours dept B 10 hours dept C Job MNO Direct material Direct labour $108 16 hours dept A 10 hours dept B 14 hours dept C Labour rates are as follows: $3.80(A): $3.50 (B): $3.40 (C) Calculate the total cost of each job.

Job Costing -TAccounts Practice Problem 8 A furniture-making business manufactures quality furniture to customers' orders. It has three production departments (A, B and C) which have overhead absorption rates (per direct labour hour) of $12.86, $12.40 and $14.03 respectively. Two pieces of furniture are to be manufactured for customers. Direct costs are as follows. Job XYZ $154 20 hours dept A 12 hours dept B 10 hours dept C Job MNO Direct material Direct labour $108 16 hours dept A 10 hours dept B 14 hours dept C Labour rates are as follows: $3.80(A): $3.50 (B): $3.40 (C) Calculate the total cost of each job.

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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Would you like to set Microsoft Edge as your default browser? Set as default of 5 Q ACtIvity 2: The following data are from the costing records of ABC Ltd. in respect of Job No. 14: Materials used BD. 2500 Direct Wages: Department A - 30 hours at BD. 6 per hour Department B - 50 hours at BD. 5 per hour Department C- 20 hours at BD. 2 per hour Overhead for these three departments were estimated as follows: Variable overheads: Department A - BD. 10000 for 2000 Direct labour hours to Department B - BD. 60000 for 3000 Direct labour hours emai Department c - BD. 80000 for 2000 Direct labour hours Fixed overheads: BD7 for 100 working hours from You are required to calculate the total cost of the above Job No.14 using job-order costing system a qu as well the price for the job to give a profit of 20% of sales. bne-tim Darticulare 888-888-8888 Ta
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