Reference no: EM13256468
Mark Trucks Limited has some idle capacity in itsplant, which is restored by accepting order from other automobiles industries. The company has finished assembly of 150 trucks againstspecial order N, 13A from Western Motors Limited. The pertinentdata are as under:
Started October 3, 2008.
Finished November 2, 2008.
Departments Material cost (Rs)Labor hours Rate per labor hours (Rs)
Assembly 150,000 4,500 18
Painting 75,000 1,200 15
Finishing 45,000 600 12
Factory pay roll for the year is expected to amountRs.1, 281,000.
Factory overhead for the year is estimated at Rs776,000. Departmental break-up is provided below:
Departments Pay rolls (Rs.)Factory over head (Rs.)
Assembly 972,000 129,600
Painting 225,000 375,000
Finishing 84,000 105,000
Factory overhead is based on direct labor hours.The component inventory has been supplied by Western MotorsLimited. But the other material has been added by the company.
The agreed price to be charged is cost plus 20%mark-up, subject to a maximum charge of Rs.5, 000
Per truck
Required:
1. Prepare a Job Cost Sheet for Job No.13A,following properformat
2. Calculate Cost per unit.
3. Calculate Total gross profit.
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