Singapore Kitchens Pte Ltd (SKPL) provides a one-stop service for kitchen installation. The company has been...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Singapore Kitchens Pte Ltd (SKPL) provides a one-stop service for kitchen installation. The company has been invited to submit a bid for a large residential property to install a kitchen in the first apartment of a large and exclusive development. SKPL is very eager to work for this contractor, and wishes to submit a bid price that is priced to win. However, the bid cannot be loss-making; i.e. all relevant costs must be fully recovered. The financial accountant has drafted the following quotation (Job 210) for your review. Quotation - Job210 Cabinets (10 units @ $100 per unit) Screws (100 @ $0.50 per unit) Semi-skilled labour (120 hours @ $12.50 per hour) Skilled labour (120 hours @ $25 an hour) Caustic soda Electrical appliances Time cost (2 days @$200 per day) on quote preparation Total variable costs Allocated head office cost (estimated) Total costs Mark-up @ 30% (rounded up to the nearest dollar) Price Note 1 Note 1 2 3 4 5 6 7 ca 8 9 $ 1,000 50 1,500 3,000 100 3,000 400 9,050 2,255 11,305 3,392 14,697 10 cabinets will be needed. These are in continuous use by the company. The current purchase price is $120 each. 5 are held in stock at a carrying cost of $100 each. They could be sold second hand for $60. Note 2 Screws will need to be purchased. They cost $50 for a box of 100. Note 3 Semi-skilled labour is currently paid $12.50 an hour. Half of the work needed on Job 210 can be absorbed in idle time, the other half will need to be done as overtime, paid at 1.5 times the regular hourly wage. Note 4 Skilled labour is currently fully occupied on other work which generates a contribution of $25 an hour. Skilled labour is paid $25 an hour. Job 210 can either be done by diverting labour away from existing work, or by paying overtime at a rate of 1.5 times the regular hourly wage. Singapore Kitchens Pte Ltd (SKPL) provides a one-stop service for kitchen installation. The company has been invited to submit a bid for a large residential property to install a kitchen in the first apartment of a large and exclusive development. SKPL is very eager to work for this contractor, and wishes to submit a bid price that is priced to win. However, the bid cannot be loss-making; i.e. all relevant costs must be fully recovered. The financial accountant has drafted the following quotation (Job 210) for your review. Quotation - Job210 Cabinets (10 units @ $100 per unit) Screws (100 @ $0.50 per unit) Semi-skilled labour (120 hours @ $12.50 per hour) Skilled labour (120 hours @ $25 an hour) Caustic soda Electrical appliances Time cost (2 days @$200 per day) on quote preparation Total variable costs Allocated head office cost (estimated) Total costs Mark-up @ 30% (rounded up to the nearest dollar) Price Note 1 Note 1 2 3 4 5 6 7 ca 8 9 $ 1,000 50 1,500 3,000 100 3,000 400 9,050 2,255 11,305 3,392 14,697 10 cabinets will be needed. These are in continuous use by the company. The current purchase price is $120 each. 5 are held in stock at a carrying cost of $100 each. They could be sold second hand for $60. Note 2 Screws will need to be purchased. They cost $50 for a box of 100. Note 3 Semi-skilled labour is currently paid $12.50 an hour. Half of the work needed on Job 210 can be absorbed in idle time, the other half will need to be done as overtime, paid at 1.5 times the regular hourly wage. Note 4 Skilled labour is currently fully occupied on other work which generates a contribution of $25 an hour. Skilled labour is paid $25 an hour. Job 210 can either be done by diverting labour away from existing work, or by paying overtime at a rate of 1.5 times the regular hourly wage.
Expert Answer:
Answer rating: 100% (QA)
It seems that youve provided an image of a quotation for a job Job 210 for the installation of a kit... View the full answer
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
Posted Date:
Students also viewed these accounting questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Event Trailers Ltd (ETL) manufactures mobile catering facilities for various corporate and sporting events. The company has been approached by Exquisite Catering Ltd, a company that specializes in...
-
Dollar General Corporation, headquartered in Goodlettsville, Tennessee, is an aggressive competitor in the deep discount retail industry, fighting for position with other stores such as Family...
-
Various streptococci and lactobacilli were traditionally grouped together as lactic acid bacteria because of their characteristic fermentation. Most of them were found to have a DNA Guanine plus...
-
Use arrows to sketch each of the following vector fields: (a) E1 = xx - yy, (b) E2 = - Ф (c) E3 = y 1/x (d) E4 = r cos.
-
Consider an ideal low pass filter with impulse response h (n) and frequency responses. What is the frequency response of the filter definedby 1. Hio) %3D 0. "() (3) n even gin) = 0. 2 odd
-
Match each of the following descriptions, a through \(h\), with a capital budgeting method: (1) payback method, (2) net present value, (3) profitability index, or (4) internal rate of return. More...
-
Was this relationship a partnership for a term or a partnership at will? Grace Tarnavsky and her sons, Manny and Jason, bought a ranch known as the Cowboy Palace in March 2006, and the three verbally...
-
Mercado, Inc. tiene los siguientes balances en su cuenta de capital. Acciones Comunes: $ 300,000 a un valor par de $ 50.00 Paid in Capital: 62,500 R/E.\ : 471,000 La Junta de directores declar un...
-
In one year, one dollar ($1) could be exchanged for one euro and twenty cents (1.20). a. Derive a formula to exchange dollars into euros. Let d be the number of dollars. Let e be the number of euros....
-
Make a COMPANY DESCRIPTION The company is: A network designer Designer of a campus network Technology company
-
Solve y+5y+6y=108x, y(0) 18, y(0)=-26.
-
The following You Tube Parent Decisionclip is good for opportunity cost (Skip the add). However, it doesn't show how to measure it. https://www.youtube.com/watch?v=pWE7WDZC-lQ How would you suggest...
-
With the recent decline in the Chinese population growth rate, India is rapidly heading to the top of the world's list of most populous countries. Due to this increasingly younger population, what is...
-
Solve: 78 = 100 100 e 0.01 x
-
Solve for x: log2x + log2(x-2) = 3
-
ATI Video Case Study: Delegation Overview This discussion requires you to access the ATI Testing website. To access ATI, use the ATI Testing link in the Canvas navigation menu or select this ATI...
-
Solve each equation or inequality. |6x8-4 = 0
-
Because of the downturn in the states economy, the mayor of Stratton thinks that uncollectible taxes are likely to increase from 5 percent of total tax bills to 10 percent in the coming fiscal year....
-
Urban Housing Agency (UHA) is considering contracts with private developers to provide low-income housing at various locations in the city. The startup costs to UHA for each location are $ 115,000,...
-
In theory, a capital asset must last at least one year and cost a substantial amount of money. True or false? Explain.
-
Joe, the nurse manager for CCU, counsels Registered Nurse Bob about his errors in charting and tells Bob that the next time an error is made, a formal warning will be put in his personnel file. Bob...
-
Which theorist helps a manager understand why an employee who does not feel safe on the job cannot perform his or her job duties well? A. Maslow. B. Herzberg. C. Vroom. D. Alderfer.
-
Research by Aiken et al. on magnet hospitals shows: A. Job satisfaction has no impact on an organizations effectiveness. B. Magnet hospitals have high turnover rates. C. Job satisfaction is...
Study smarter with the SolutionInn App