Question # 1 Following information has been extracted from costing record of Abdul Engineering works in respect of Job N

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Question # 1
Following information has been extracted from costing record of
Abdul Engineering works in respect of Job No. 101.
Material

Rs.5,800
Wages:
Department
A
100 hours @ Rs. 5 per hour
Department
B
200 hours @ Rs. 3 per hour
Overhead for the two department are estimated as follows:
Variable Overhead
Department
A
Rs.10,000 for 5,000 direct labour hours
Department
B
Rs.30,000 for 10,000 direct labour hours
Fixed Overheads: Estimated at Rs.50,000 for
50,000 normal working hours.
Required:
Calculate the cost of Job No. 101 and calculate the price to be
charged so as to given a profit of 20% on selling price
Question # 2
Classify these industries with respect to the type of cost
accumulation procedure generally used--job order costing or process
costing.
a. Meat
k. Pianos
b. Sugar
l. Linoleum
c. Steel
m. Leather
d. Breakfast cereal
n. Nylon
e. Paper boxes
o. Baby foods
f. Wooden furniture
p. Locomotives
g. Toys and novelties
q. Office machines equipment
h. Coke
r. Luggage
i. Cooking utensils
s. Paint
j. Caskets
t. Tires and tubes
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