Practice questions:
A company has established the following annual budgets:
A job has been accepted which has the following direct costs:
Direct materials 18 kg @ £5.10 per kg
Direct wages:
Dept 1 18 hours @ £3.50 per hour
Dept 2 32 hours @ £3.00 per hour
Calculate the total cost of the job and the profit as a percentage of costs if the selling price is £500.