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important question for midterm

Question No: 37 ( Marks: 5 )

PA limited operates a job costing system. The company standard sale price is predetermined Rs.

505 based on cost plus 20% profit margin. The estimated cost for Job # 141 is as follows:

Direct material   5 meters@ Rs.20 per meter

Direct labor       14 hours@ Rs. 8.00 per hour

Production overhead for the year are budgeted to be Rs.200,000 and are to be recovered on the

basis of the total 40,000 direct labor hour for the year.

Required:

v Calculate Cost of Goods Sold for job # 141

v Calculate amount of profit for job #141

kindly some body solve it properly

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Replies to This Discussion

If anyone know how to solve this problem then kindly help plz

yes its past papers question and it came in almost all midterm papers very very very very important and kindly faizan you do it before 25th plzzzzzzzzzzzzzzzz

Tariq bahi i asked help from u too plz solve this problem

humain b past pappers send karain jo ap k pass hn. muje ata ha solve kar dn gi.

to plz solve this rabiya and post it plzzzzzzzzzz

Solution:
Mateiral = 100
D. Labor = 112
FOH = 200 000/40000x14 = 70
Cost of goods sold = 282
Net Profit= 282x.2/.8=70.5

Somebody tell m i have solved the above problem write

atif paper hogaya apka???

i thnk its wrong the question is complicated

tehrim do u knw hw to solve it

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