5 As a cost accountant, using the following data draw up a job cost sheet: Materials (for the job) : 24-00 Labour for the job at the rate of Rs.2 per hour In department A-10 Hours; In department B– 6 Hours; In Department C-4 Hours Previous year profit and loss account shows the following: Material - 35,000 Labour: - Dept. 'A' : 5,000; Dept. 'B' : 6,000; Dept. 'C' : 4,000 Factory overheads: Dept. 'A' : 5,000; Dept 'B' : 3,000; Dept 'C' : 3,000 Selling & Distribution over heads Rs.12,200 For Job overheads are charged based on previous year and add to the job cost 10% for profit and give job price.
5 As a cost accountant, using the following data draw up a job cost sheet: Materials (for the job) : 24-00 Labour for the job at the rate of Rs.2 per hour In department A-10 Hours; In department B– 6 Hours; In Department C-4 Hours Previous year profit and loss account shows the following: Material - 35,000 Labour: - Dept. 'A' : 5,000; Dept. 'B' : 6,000; Dept. 'C' : 4,000 Factory overheads: Dept. 'A' : 5,000; Dept 'B' : 3,000; Dept 'C' : 3,000 Selling & Distribution over heads Rs.12,200 For Job overheads are charged based on previous year and add to the job cost 10% for profit and give job price.
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12EB: A company has the following transactions during the week. Purchase of $3,000 raw materials inventory...
Related questions
Question
100%
I want perfect answer otherwise I will give downvotes
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning