The following are the data relating to Job No. 767: Raw materials ₹3,400 Direct wages for 80 hours @ ₹3 Variable overhead incurred for all jobs ₹6,000 for 4,000 hours. If 20% profit on selling price is expected, the sell
CS Executive · Cost and Management Accounting · PYQS · December 2017
The following are the data relating to Job No. 767: Raw materials ₹3,400 Direct wages for 80 hours @ ₹3 Variable overhead incurred for all jobs ₹6,000 for 4,000 hours. If 20% profit on selling price is expected, the selling price is: (A) ₹4,512 (B) ₹3,760 (C) ₹4,700 (D) ₹4,320
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Job Costing
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