PATRIOT ODUNARO BABATUNDE JIMOH (080384540008)
ASSIGNMENT 2
Batch No.X777 incurred the following costs:
Dept. A 420 labour hours at N3.50
Dept. B 686 labour hours at N3.00
Factory overheads are absorbed on labour hours and the rates are N8 per
hour for Dept. A and N5 per hour for Dept.B.
The firm uses a cost plus system for setting prices and expected a 25% gross
profit (sales minus total cost). Administration overheads are absorbed at
10% selling price. Assuming that 1,000 units were produced in Batch X777.
Calculate:
(a) The selling price per unit
(b) The total amount of administrative overheads
(c) The profit per unit
ASSIGNMENT 3
Batch No. 314 incurred the following costs:
Dept. A 750 labour hours at N3.50
Dept. B 625 labour hours at N3.00
Factory overheads are absorbed on labour hours and the rates are N8 per
hour for Dept. A and N5 per hour for Dept.B.
The firm uses a cost plus system for setting prices and expected a 25% gross
profit (sales minus total cost). Administration overheads are absorbed at
10% selling price. Assuming that 1,000 units were produced in Batch 314.
Calculate:
(a) The selling price per unit
(b) The total amount of administrative overheads
(c) The profit per unit
ASSIGNMENT 4
Sogbae Press Limited was asked to quote for
supplying 5,000 and 25,000 booklets. The company normally expects a profit of
10% on cost.
Costs were recognized as follows:
N
Paper and other materials (per 1,000 copies) 30.00
Wages (per 1,000 copies) 20.00
Layout cost 500.00
Fixed Overhead 200.00
Variable Overhead ( 12% of wages)
Draft a cost computation, showing minimum selling prices that might be quoted per 1,000 copies of the supplies.
INSTRUCTION:
FOR FULL-TIME:TO BE SUBMITTED ON OR BEFORE MONDAY OCTOBER 19, 2020 AROUND 9A.M
FOR PART-TIME-TIME:TO BE SUBMITTED ON OR BEFORE SATURDAY OCTOBER 24, 2020 AROUND 9AM
