1. What do you understand by Job Costing? Explain its features, procedures, suitability, merits and demerits. (2 Marks) 2. Prepare a Job Cost Card for the Job No. 2121 from the following details. (3 Marks) Materials OMR 20,000 Labor OMR 30,000 Direct Expense OMR 10,000 Factory Overheads 60% of Labor Administration Overheads 20% of Factory Cost Selling Overheads 15% of Cost of Production Profit 1/6 of Sales (16.666% of Sales)