R Ltd has been asked to quote for a job. The company aims to make a profit margin of 20% on sales. The estimated total variable production cost for the job is £125. Fixed production overheads for the company are budgeted to be £250,000 and are recovered on the basis of labour hours. There are 12,500 budgeted labour hours and this job is expected to take 3 labour hours. Other costs in relation to selling and distribution, and administration are recovered at the rate of £15 per job. company quote for the job should be Ll The

R Ltd has been asked to quote for a job. The company aims to make a profit margin of 20% on sales. The estimated total variable production cost for the job is £125. Fixed production overheads for the company are budgeted to be £250,000 and are recovered on the basis of labour hours. There are 12,500 budgeted labour hours and this job is expected to take 3 labour hours. Other costs in relation to selling and distribution, and administration are recovered at the rate of £15 per job. company quote for the job should be Ll The

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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