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Job Costing Sample Questions & Solutions

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**Job Costing The total cost of a job came to €3,645**

Calculate the cost of each component to the nearest cent if the costs were broken down as follows: Materials 1/3 Labour 5/12 Profit margin 1/6 VAT 1/12

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**Job Costing Convert fraction to % (divide top by bottom) Component**

Fraction of Cost Materials Labour Profit margin VAT % 33.3 41.7 16.7 8.3 Cost 33.3% of 3645 = €1,213.77 41.7% of 3645 = €1,519.97 16.7% 0f 3645 = € 8.3% of 3645 = €

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Job Costing Three carpenters work for 2 weeks constructing a roof. They work 9 hours a day for 4 days and 8 hours on the fifth day each week. From the table below, calculate the net pay for the three carpenters after allowances and deductions. Standard Hourly rate € 22 Standard working week 39 hours Overtime rate 11/2 standard hourly rate Tool allowance (taxable) €1.55 / day Meal allowance (taxable) €1.80 / day Tax 21%

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**Job Costing Total hours = 4 x 9 + 8 = 44 44 – 39 = 5 hours (overtime)**

€33 x 5 = €165 (hourly rate x 1.5) €1.55 x 5 (days) = €7.75 €1.8 x 5 (days) = €9 Total Gross = €1,039.75 - 21% = €218.35 Net wage = €821.40 X = €2, Answer Standard Hourly rate € 22 Standard working week 39 hours Overtime rate 11/2 standard hourly rate Tool allowance (taxable) €1.55 / day Meal allowance (taxable) €1.80 / day Tax 21% NB* always take the time to read each question fully to be sure of what answer is required. In this example, the total for the 3 carpenters was requested.

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Job Costing It takes 3,000 meters of flooring to complete one house. How much would it cost to floor 18 houses given the following information? Component Cost Flooring €0.25 per metre run. (Less 2% trade discount) Labour 15 hours for each €25 per hour Overheads 38% of labour costs V.A.T. +10% Cost for 1 house (2%) = €735 €375 €142.50 0.25 x 3,000 = € % = 15 Subtotal €1,252.50 €125.25 Total for 1 house €1,377.75 Total for 18 houses €24,799.50

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