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job costing

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › job costing

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.
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  • February 19, 2018 at 5:31 pm #437991
    mhxajfaan77
    Participant
    • Topics: 7
    • Replies: 2
    • ☆

    A business operates a job costing system and has the aim of making a net profit of 30% of sales
    The costs estimates for one particular job are as follows
    Direct material 80 kg at $5 per kg
    Direct material 40 hours at $6 per hour
    The total overheads are budgeted at $120000 and are absorbed on the basis of direct labour hours the budgeted labour hours are 50000

    Ans for this question is 1051 what if the question says the aim of the business is to make a net profit of 30% on costs what would be the ans

    February 19, 2018 at 5:51 pm #438007
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54701
    • ☆☆☆☆☆

    You would calculate the cost in the same way, and then multiply the cost by 30% to get the profit!!

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