An order is received from Encik Fahim to manufacture an equipment for his personal use. The data related to the costs of the equipment were as follows:Required:a) Prepare a Job Cost Sheet showing the prime cost, total cost and selling price for the equipment.

 

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QUESTION 3 Asfiza Group manufactures customized equipment for local market. The data for the period were as follows: Direct material: Budgeted overhead Actual direct labour hours Budgeted direct labour hours Actual machine hours 6,200 hours 4,700 hours Budgeted machine hours' 5,700 hours 5,300 hours An order is received from Encik Fahim to manufacture an equipment for his personal use. The data related to the costs of the equipment were as follows: Direct labour: A B Machining Finishing Machining department RM50,000 Hire of special machine Administrative expenses Machine hours: 5,000 hours 5,400 hours Finishing department RM65,000 RM1,500 RM2, 100 6,000 hours 5,800 hours 500 hours @ RM2.50 per hour 450 hours @ RM3.20 per hour RM1,200 15% of factory costs Machining Finishing 321 hours 670 hours Profit 25% of total cost Overhead absorption is based on machine hour for the Machining department and direct labour hour for Finishing department. Required: a) Prepare a Job Cost Sheet showing the prime cost, total cost and selling price for the equipment. QUESTION 3 Asfiza Group manufactures customized equipment for local market. The data for the period were as follows: Direct material: Budgeted overhead Actual direct labour hours Budgeted direct labour hours Actual machine hours 6,200 hours 4,700 hours Budgeted machine hours' 5,700 hours 5,300 hours An order is received from Encik Fahim to manufacture an equipment for his personal use. The data related to the costs of the equipment were as follows: Direct labour: A B Machining Finishing Machining department RM50,000 Hire of special machine Administrative expenses Machine hours: 5,000 hours 5,400 hours Finishing department RM65,000 RM1,500 RM2, 100 6,000 hours 5,800 hours 500 hours @ RM2.50 per hour 450 hours @ RM3.20 per hour RM1,200 15% of factory costs Machining Finishing 321 hours 670 hours Profit 25% of total cost Overhead absorption is based on machine hour for the Machining department and direct labour hour for Finishing department. Required: a) Prepare a Job Cost Sheet showing the prime cost, total cost and selling price for the equipment.

Answer rating: 100% (QA)

1 Machining Department Overhead Budgeted machine hours 5700 hours Actual machine hours 6200 hours Ov... View the full answer