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Prepare job cost sheet showing the estimated cost of the job

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Reference no: EM132609830

XYZ Engineering Services Ltd is asked to provide a quotation to replace the cylinder head for the engine of a machine in a local factory. The items will need to be cast in a foundry and then passed to the finishing shop for machining to specification.

  • Materials required will be 200kg ingot of high strength steel, which cost $10 per kg.
  • Direct labour will be 15 hours in the foundry, and 20 hours in the finishing shop, of which 12 hours will be machine hours. Foundry workers are paid $10 per hour while the machine operators in the finishing shop are paid $12 per hour.
  • Overheads are charged on the basis of 80% of direct labour cost in the foundry, and on the basis of $20 per machine hour in the finishing shop.
  • Profit is to be 25% of cost price.

REQUIRED:

Problem A. Prepare job cost sheet showing the estimated cost of the job.

Problem B. Describe two (2) other documents that are used with a job costing system

Reference no: EM132609830

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