| Ben Turpin Plc | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 |
|---|---|---|---|---|---|
| Overhead Analysis Statement | |||||
| Overhead | Basis of Apportionment | PRODUCTION DEPARTMENTS | SERVICE DEPARTMENT | Total Overhead | |
| Machining | Finishing | Warehouse | |||
| Total Departmental Overhead | 50000 | 40000 | 20000 | 110000 | |
| Reallocate Warehouse | 17000 | 3000 | |||
| Total Production Overhead | 67000 | 43000 | |||
| Overhead Absorption Rate | |||||
| Workshops | Total Overhead | ||||
| (Machining + | Direct Material Cost | ||||
| Finishing) | |||||
| 110000 | x 100 | ||||
| 200000 | |||||
| 0.55 | |||||
| Ben Turpin Plc | |||||
| Job Costing Statement - Job No 876 | |||||
| 0 | £ | ||||
| Direct Materials | |||||
| Machining | 150 | ||||
| Finishing | 30 | 180 | |||
| Direct Labour | |||||
| Machining | (0 hrs x £12) | 0 | |||
| Finishing | (2 hrs x £10) | 20 | 20 | ||
| Direct Expenses | 0 | ||||
| PRIME COST | 200 | ||||
| Overheads | |||||
| Machining | (£150 x 55%) | 82.5 | |||
| Finishing | (£30 x 55%) | 16.5 | 99 | ||
| TOTAL COST OF JOB NO 876 | 299 | ||||
| New Overhead Absorption Rate | |||||
| Machining | Total Overhead | ||||
| Total Direct Machine Hours | |||||
| 67000 | |||||
| 10000 | |||||
| 6.7 | |||||
| Finishing | Total Overhead | ||||
| Total Direct Labour Hours | |||||
| 43000 | |||||
| 4000 | |||||
| 10.75 | |||||
| Ben Turpin Plc | |||||
| New Job Costing Statement - Job No 876 | |||||
| £ | £ | ||||
| Direct Materials | |||||
| Machining | 150 | ||||
| Finishing | 30 | 180 | |||
| Direct Labour | |||||
| Machining | (0 hrs x £12) | 0 | |||
| Finishing | (2 hrs x £10) | 20 | 20 | ||
| Direct Expenses | 0 | ||||
| PRIME COST | 200 | ||||
| Overheads | |||||
| Machining | (10 hrs x £6.70) | 67 | |||
| Finishing | (2 hrs x £10.75) | 21.5 | 88.5 | ||
| TOTAL COST OF JOB NO 876 | 288.5 | ||||
| Add Profit (20% x Total Cost) | 57.7 | ||||
| 346.2 | |||||
| Add VAT (20%) | 69.24 | ||||
| SELLING PRICE OF JOB NO 876 | 415.44 | ||||
| Over/Under Absorbed | |||||
| Overhead Absorbed | £6.70 x 11000 hrs | £10.75 x 3500 hrs | |||
| Actual Overhead Absorbed | 73700 | 37625 | |||
| Budgeted Overhead Absorbed | 67000 | 43000 | |||
| 6700 | -5375 | ||||
| (Over Absorbed) | (Under Absorbed) | ||||
| Ben Turpin Plc | |||||
| Overhead Analysis Statement | |||||
| Overhead | Basis of Apportionment | PRODUCTION DEPARTMENTS | SERVICE DEPARTMENT | Total Overhead | |
| Machining | Finishing | Warehouse | |||
| Indirect Materials | Allocated | 6000 | 2000 | 0 | 8000 |
| Supervision | No of Workers | 12000 | 6000 | 2000 | 20000 |
| Power | kW Hours | 4000 | 1000 | 0 | 5000 |
| Rent | Area (sq m) | 30000 | 18000 | 12000 | 60000 |
| Insurance - Machinery | Value of Machinery | 6000 | 1000 | 0 | 7000 |
| Total Departmental Overhead | 58000 | 28000 | 14000 | 100000 | |
| Reallocate Warehouse | No of Employees | 10500 | 3500 | ||
| Total Production Overhead | 68500 | 31500 |