Parker Ltd bases its job estimates on the following formulae: Total cost = prime cost plus 20%

Question:

Parker Ltd bases its job estimates on the following formulae:

Total cost = prime cost plus 20% for overheads Selling price = total cost plus 25% for profit.

Estimates for jobs SN18 and TY12 are as follows: image text in transcribed

Calculate the selling price for each job.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Accounting For Non Accountants

ISBN: 9780749465971

9th Edition

Authors: David Horner

See More Books

Question Posted: Jan 31, 2024 03:05 AM

See More Questions

Jukes Ltd bases its job estimates on the following formulae: Total cost = Prime cost plus 50% for overheads Selling price = Total cost plus 30% for profit. Estimates for job PW1 and for job JC2 are...
Athena Ltd is an engineering business doing work for its customers to their particular requirements and specifications. It determines the full cost of each job taking a job-costing approach,...
After pollen lands on a stigma, it is far away from the ovule with the megagametophyte, which holds the egg (the megagamete). How are the two sperm cells transported from the stigma to the egg?
Figure 4-34(a) (P4.47) shows three planar dielectric slabs of equal thickness but with different dielectric constants. If E0 in air makes an angle of 45 _ with respect to the z-axis, find the angle...
What inductance should you put in series with a 150 resistor to give a time constant of 2.2 ms?
Jason Cannon purchased a defective tractor for which Cannon brought numerous causes of action against Bodensteiner Implement Company (Bodensteiner). One of the claims was breach of express...
Revenue Recognition on Marina Sales with Discounts Taylor Marina has 300 available slips that rent for $800 per season. Payments must be made in full at the start of the boating season, April 1,...
Make a Relational Model Table and Define Keys from Entity Relation Diagram Q2: Design the World Music Association Database using given ERD. ORCHESTRA "Orchestra Name City Country Music Director...
A product costs 3 to produce and sells for 8. If fixed costs are 2,500, produce a schedule of costs, revenue and profits for an output range of 0600 units.
The following information relates to the departments of Scaife plc for the year ending 31 December 2013. The overheads of the service departments are allocated to the production departments on the...
From Alegria to Zumanity, Cirque du Soleils shows have reinvented the circus as multimedia entertainment and captured the imagination of audiences all over the world. Thanks to savvy marketing and...
Mr Jones, married, 66 Children: Son Daughter spouse's NIFTP (earned) $ spouse's age 30,000 63 2021 Gross salary $ 59,000 CPP contributions $ 3,025 El premiums $ 1,079 Employee RPP contributions $...
A car travelling west at 60.0 km/h decelerates at 6.50 m/s. The car's tires have a radius of 0.310 m. Question 1 (a) What is the magnitude of the tires' angular acceleration?
(Gitanmaax - British Columbia - (Indian band area). 1. Location and Geographic Characteristics 2. Demographic Profile 3. Economic profile and activities 4. IssuesFacing the Community
How do advanced operating systems implement and optimize symmetric multiprocessing (SMP), and what challenges arise in ensuring efficient parallel execution of tasks across multiple processor cores?
The following data pertains to a domestic corporation which was incorporated in 2010 but was registered with the BIR on 2011: Gross Income Allowable Deduction 2014 2015 2016 2017 2018 2019 1,000,000...
The major difficulty in the selection of a project organizational form involves placement of the project manager. In the evolutionary process, the project manager started out reporting to a...
Dan and Diana file a joint return. Dan earned $31,000 during the year before losing his job. Diana received Social Security benefits of $5,000. a. Determine the taxable portion of the Social Security...
For a commercial farm, classify the following expenditure into either capital or revenue: (a) Delivery costs of pesticide (b) Insurance of tractors (c) Installation costs of new machinery for milking...
For the following items, decide in each case whether they are a capital or revenue receipt: (a) Sales of sofas by furniture retailer (b) Sale of cash till by a car retailer (c) Loan taken out by...
In a fast food outlet divide the following costs according to whether they are capital expenditure or revenue expenditure: (a) Purchase of deep fat fryer (b) Painting logo outside new premises (c)...
It is intended to design a speedometer system to measure the speed of an object falling through a column of water and display it on a PC. You are equipped with the following: A 1MHz clocked AVR...
How do deadlock and live lock relate to synchronization issues? Provide strategies to prevent or mitigate them.
Seventeen percent of U.S. residents are in their thirties. Consider a group of eight U.S. residents selected at random. Find the probability that at least five of the people in the group are in their...

Parker Ltd bases its job estimates on the following formulae: Total cost = prime cost plus 20%

Question:

Direct materials (2 per metre) Direct labour (6 per hour) Job SN18 100 200 Job TY12 150 250

Step by Step Answer:

Direct materials Direct labour ...View the full answer

Accounting For Non Accountants

Students also viewed these Business questions