Compute the total cost associated with each job. (note: use two decimal point) ,Compute the...

50.1K

Verified Solution

Question

Accounting

image

Compute the total cost associated with each job. (note: use two decimal point) ,Compute the product cost per unit for each job. (note: use two decimal point) , Calculate the selling price per unit for each job if the profit is to be maintained at 10% on cost ,Differentiate between job costing and batch costing .

tq. faster

Up-Close Apparel manufactures specialty lines of women's apparel. During February 2021, the company worked on 3 special orders which are AX-1, AX-5 and BF-7. Cost and production data for each order are shown in the following tables: Job AX-1 Job AX-5 Job BF-7 Direct materials (meter) Fabric Q 430 meter 520 meter 705 meter Fabric Z 570 meter 610 meter 672 meter Fabric YB 290 meter 385 meter 600 meter Fabric Q cost RM25 per meter, Fabric Z cost RM20 per meter and Fabric YB cost RM18 per meter. Direct labour consists of garment maker, layout worker and packaging worker. Garment maker and layout worker are skilled workers while packaging worker are unskilled workers. The skilled workers are paid RM 10 per hour and unskilled workers are paid RM 6 per hour. Direct labour hours Job AX-1 Job AX-5 Job BF-7 Garment maker 890 hours 1,040 hours 1,620 hours Layout 645 hours 743 hours 921 hours Packaging 660 hours 820 hours 1,015 hours Additional information: 1. 2. 3. Production overhead are 120% of direct labour cost Selling and distribution overheads are charged to the three jobs based on 3% of the total production cost Administration overheads are charged to the three jobs based on 4% of the total production cost During the month, 700 units of AX-1, 775 units of AX-5 and 1,482 units of BF-7 were produced. 4

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students