1. The information given below has been taken from the costing records of an industry in...

 

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1. The information given below has been taken from the costing records of an industry in respect of job No.606. Material: Tk 8020. Labour: Department A 120 hours @ Tk 6 per hour Department B 80 hours @ Tk 4 per hour. Department C 40 hours @ Tk 10 per hour. Overhead expenses for these 3 departments were estimated as follows: Variable overhead: Department A Tk 10000 for 10000 labour hours Department B Tk 6000 for 3000 labour hours. Department C Tk 4000 for 1000 labour hours Fixed overhead: Estimated Tk 4000 for 20,000 normal working hours. Required: Prepare a Job order cost sheet for Job No. 606 and calculate the price to give a profit of 25% on selling price. 1. The information given below has been taken from the costing records of an industry in respect of job No.606. Material: Tk 8020. Labour: Department A 120 hours @ Tk 6 per hour Department B 80 hours @ Tk 4 per hour. Department C 40 hours @ Tk 10 per hour. Overhead expenses for these 3 departments were estimated as follows: Variable overhead: Department A Tk 10000 for 10000 labour hours Department B Tk 6000 for 3000 labour hours. Department C Tk 4000 for 1000 labour hours Fixed overhead: Estimated Tk 4000 for 20,000 normal working hours. Required: Prepare a Job order cost sheet for Job No. 606 and calculate the price to give a profit of 25% on selling price.