Manchester University uses job-cost records for various research projects. A major reason for such records is to justify requests for reimbursement of costs on projects sponsored by the federal government.
Consider the following summarized data regarding a cancer research project in the Medical School:
● 5 January Direct materials, various medical supplies, £925.

● 7 January Direct materials, various chemicals, £780. 

● 5–12 January Direct labour, research associates, 120 hours.

● 7–12 January Direct labour, research assistants, 180 hours Research associates receive £32 per hour, while assistants receive £19. The overhead rate is 70 per cent of direct-labour cost. Sketch a job-cost record. Post all the data to the project-cost record. Compute the total cost of the project through 12 January.