Solution-Prepare the job cost sheet and determine the net

Prepare the job cost sheet and determine the net profit

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Reference no: EM132851105

Problem - Decent Furniture receive an order of 200 easy chairs from AK Enterprises through customer order no. 56 dated, July 17, 2020. Cost related to production of this order is calculated as:

Direct Material Estimated	Amount Rs.284,000	Direct Labor Estimated	Amount Rs. 184,000
Actual	Cutting	Designing	Finishing
July 20	10,000	-	-
July 30	15,000	10,000	-
August 5	40,000	15,000	10,000
Actual
July 20	6,000	8,000	10,000
July 30	15,000	25,000	25,000
August 5	14,000	34,000	40,000

Applied FOH is 30% of prime cost. Order starting date is July 22, 2020 and completion is August 30, 2020. Contract price is Rs.732,000. Selling expense is 2% of contract price, administrative expense is 3% of contract price.

Required - Prepare the job cost sheet and determine the net profit.

Reference no: EM132851105

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Prepare the job cost sheet and determine the net profit

Reference no: EM132851105

Reference no: EM132851105

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