Ltd has been asked to submit a bid on two prospective jobs, one for Camel Ltd, the other for Alpaca Ltd. The company uses a job costing system and applies overheads using machine hours. Total overhead for the year is expected (budgeted) to be $1 800 000, and it is expected that 100 000 machine hours will be worked. Information relating to the prospective jobs has been provided: Direct Materials Direct labour Number-of machine hours Number of engineering hours520 Required : Using the traditional job costing system, calculate the total cost of each job. (7 marks) Camel Ltd $30 000 $52 000 8 000 Alpaca Ltd $40 000 S50 000 18 000 200 Part B Peru Ltd. has the following budgeted costs and absorption base for the various departments: Cost $ Absorption base Total capacity 0,000 machine hrs Machininig Setup Engineering 800,000 140,000 500,000 360,000 Machine Hours 10 No. of Setups No. of engineering 12,500 Engineering 400 setups hours No. inspections hrs. 3,000 inspections Inspection