jukes ltd bases its job estimates on the following formulae 611285
Jukes Ltd bases its job estimates on the following formulae:
Total cost = Prime cost plus 50% for overheads
Selling price = Total cost plus 30% for profit.
Estimates for job PW1 and for job JC2 are as follows:
|
Job SN18 |
JobTY12 |
|
|
Direct materials (£2 per metre) |
£100 |
£150 |
|
Direct labour (£6 per hour) |
£200 |
£250 |
Calculate the selling price for each job.