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A business operates a job costing system and has the aim of making a net profit of 30% of sales. The cost estimates for one particular job are as follows:
Direct materials: 80 kg at $5 per kg
Direct Labour: 40 hours at $6 per hour
The total overheads are budgeted at $120,000 and are absorbed on the basis of direct labour hours. The budgeted labour hours are 50,000. What price should be quoted for this job?
Can I see the calculation for this question please?
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