Belati Sdn. Bhd. is a well-known producer of quality textile. During the second week of November...

 

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Belati Sdn. Bhd. is a well-known producer of quality textile. During the second week of November 2019, the company received an order for Job No. 58. Job No. 58 passes through three departments, namely X, Y and Z. A job No. 58 passes through three departments namely X, Y and Z. The following information is given to you regarding this Departments Y. Z. Material used to job Direct labour hour for job RM8,000 RM1,000 RM500 1,000 2,000 5,000 RM1.50 RM2.00 Rate of direct labour per RM1.00 hour Sale of scrap of material arising from job Total RM1,000 RM150 RM100 RM10,000 RM15,000 RM25,000 overhead for the departments 40,000 Total labour hour for the 10,000 30,000 departments Additional information: i. Overhead is absorbed based on direct labour hour, Selling expenses are 5% of production cost. Administration expenses are 10% of production cost. iv. Profit is set at 20% on total cost. (a) Prepare a Job Cost Sheet for Job No. 58, showing its prime cost, total production cost and total cost. (18 marks) (b) Determine the profit and selling price. (2 marks) Belati Sdn. Bhd. is a well-known producer of quality textile. During the second week of November 2019, the company received an order for Job No. 58. Job No. 58 passes through three departments, namely X, Y and Z. A job No. 58 passes through three departments namely X, Y and Z. The following information is given to you regarding this Departments Y. Z. Material used to job Direct labour hour for job RM8,000 RM1,000 RM500 1,000 2,000 5,000 RM1.50 RM2.00 Rate of direct labour per RM1.00 hour Sale of scrap of material arising from job Total RM1,000 RM150 RM100 RM10,000 RM15,000 RM25,000 overhead for the departments 40,000 Total labour hour for the 10,000 30,000 departments Additional information: i. Overhead is absorbed based on direct labour hour, Selling expenses are 5% of production cost. Administration expenses are 10% of production cost. iv. Profit is set at 20% on total cost. (a) Prepare a Job Cost Sheet for Job No. 58, showing its prime cost, total production cost and total cost. (18 marks) (b) Determine the profit and selling price. (2 marks)

Answer rating: 100% (QA)

a Calculation of Prime Cost Production Cost and Total Cost Calculation of Labour Cost Particu... View the full answer