Exercise 7 nz Ltd has the following cost data for the year 20x1: Production department Description...

   

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Exercise 7 nz Ltd has the following cost data for the year 20x1: Production department Description Materials used R100 000 Drect labour costs R40 000 R160 000 Overheads R120 000 R192 000 Machine hours R80 000 4 000 hours Required Calculate the following: 11 The overhead rates to be used for the year 20x1, based on direct labour costs for the production department and machine hours for the finish- ing department 12 The total overheads to be applied to job 804, which amounted to R6 000 direct labour costs in the production department and 500 machine hours in the finishing department 13 The total cost of job 804, if the material cost for the job totalled R4 000 and the labour cost totalled R6 000 14 The over- or under-applied overheads for job 804 if the actual overheads applied to job 804 totalled R8 000 in the production department and R9 200 in the finishing department Finishing department Exercise 7 nz Ltd has the following cost data for the year 20x1: Production department Description Materials used R100 000 Drect labour costs R40 000 R160 000 Overheads R120 000 R192 000 Machine hours R80 000 4 000 hours Required Calculate the following: 11 The overhead rates to be used for the year 20x1, based on direct labour costs for the production department and machine hours for the finish- ing department 12 The total overheads to be applied to job 804, which amounted to R6 000 direct labour costs in the production department and 500 machine hours in the finishing department 13 The total cost of job 804, if the material cost for the job totalled R4 000 and the labour cost totalled R6 000 14 The over- or under-applied overheads for job 804 if the actual overheads applied to job 804 totalled R8 000 in the production department and R9 200 in the finishing department Finishing department

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Answer 71 Production department Finishing department Estimated Overhead R 19200000 ... View the full answer