A-LevelAccountingTraditional costing methods9706/12 · Oct/Nov 2010 · Q291 Mark

A job cost sheet showed the following estimates. [Table showing materials $680, labour at $20 per hour $200, overheads at $10 per labour hour $100, profit $280, price of job $1 260] The job actually took 25% more labour hours than were estimated. What was the profit?

A$205

B$230

C$330

D$355

✓ Correct answer

A: $205

Oracle Prep sorts past-paper questions by topic, so you can drill Traditional costing methods and see which topics are most likely to come up next.

Topic: Traditional costing methods, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2010 Paper 1 Variant 2, question 29.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

The following information is for a business. Budgeted fixed costs per month $2000; target profit per month $3000; bu…

The costs of a company that annually sells 10000 units are as follows. Direct material $50000; assembly labour $1000…

Which statements identify a disadvantage of break-even analysis? 1 It does not show the effect of changes in output …

The following information relates to the disposal of a non-current asset. $ profit on disposal 5200 cost of non-curre…

Omar wishes to become a trader. He decides to buy an existing business in a good location. He pays more for the busin…

A sales ledger control account was prepared. An irrecoverable debt of $40 was omitted and a discount allowed of $68 w…