Job Costing Sample Questions

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Transcript Job Costing Sample Questions

Slide 1

Carpentry & Joinery
Phase4 Maths

Job Costing

Sample Questions
& Solutions

Carpentry & Joinery
Phase4 Maths

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

Carpentry & Joinery
Phase4 Maths

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

Fraction
of Cost

Cost
%

Materials

33.3

33.3% of 3645 = €1,213.77

Labour

41.7

41.7% of 3645 = €1,519.97

Profit margin

16.7

16.7% 0f 3645 = € 608.72

VAT

8.3

8.3% of 3645 = € 302.54

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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%

Carpentry & Joinery
Phase 4
Module 3 Unit 6

Job Costing
Total hours = 4 x 9 + 8 = 44
Standard Hourly
rate

€ 22

44 – 39 = 5 hours (overtime)

Standard
working week

39 hours

€22 x 39 = €858

Overtime rate

11/

standard
hourly rate

€1.55 x 5 (days) = €7.75

Tool allowance
(taxable)

€1.55 / day

€1.8 x 5 (days) = €9

Meal allowance
(taxable)

€1.80 / day

Total Gross = €1,039.75

Tax

21%

- Tax @ 21% =

€218.35

Net wage

=

€821.40

X3

= €2,464.20 Answer

€33 x 5
2

= €165 (hourly rate x 1.5)

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.

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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

Cost for 1
house

Flooring

€0.25 per metre run. (Less 2% trade
discount) 0.25 x 3,000 = €750 2% = 15

Labour

15 hours for each floor @ €25 per hour

Overheads

38% of labour costs

€375
€142.50

Subtotal
V.A.T.

750 -15 (2%)
= €735

€1,252.50
€125.25

+10%

Total for 1 house

€1,377.75

Total for 18 houses

€24,799.50


Slide 2

Carpentry & Joinery
Phase4 Maths

Job Costing

Sample Questions
& Solutions

Carpentry & Joinery
Phase4 Maths

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

Carpentry & Joinery
Phase4 Maths

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

Fraction
of Cost

Cost
%

Materials

33.3

33.3% of 3645 = €1,213.77

Labour

41.7

41.7% of 3645 = €1,519.97

Profit margin

16.7

16.7% 0f 3645 = € 608.72

VAT

8.3

8.3% of 3645 = € 302.54

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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%

Carpentry & Joinery
Phase 4
Module 3 Unit 6

Job Costing
Total hours = 4 x 9 + 8 = 44
Standard Hourly
rate

€ 22

44 – 39 = 5 hours (overtime)

Standard
working week

39 hours

€22 x 39 = €858

Overtime rate

11/

standard
hourly rate

€1.55 x 5 (days) = €7.75

Tool allowance
(taxable)

€1.55 / day

€1.8 x 5 (days) = €9

Meal allowance
(taxable)

€1.80 / day

Total Gross = €1,039.75

Tax

21%

- Tax @ 21% =

€218.35

Net wage

=

€821.40

X3

= €2,464.20 Answer

€33 x 5
2

= €165 (hourly rate x 1.5)

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.

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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

Cost for 1
house

Flooring

€0.25 per metre run. (Less 2% trade
discount) 0.25 x 3,000 = €750 2% = 15

Labour

15 hours for each floor @ €25 per hour

Overheads

38% of labour costs

€375
€142.50

Subtotal
V.A.T.

750 -15 (2%)
= €735

€1,252.50
€125.25

+10%

Total for 1 house

€1,377.75

Total for 18 houses

€24,799.50


Slide 3

Carpentry & Joinery
Phase4 Maths

Job Costing

Sample Questions
& Solutions

Carpentry & Joinery
Phase4 Maths

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

Carpentry & Joinery
Phase4 Maths

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

Fraction
of Cost

Cost
%

Materials

33.3

33.3% of 3645 = €1,213.77

Labour

41.7

41.7% of 3645 = €1,519.97

Profit margin

16.7

16.7% 0f 3645 = € 608.72

VAT

8.3

8.3% of 3645 = € 302.54

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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%

Carpentry & Joinery
Phase 4
Module 3 Unit 6

Job Costing
Total hours = 4 x 9 + 8 = 44
Standard Hourly
rate

€ 22

44 – 39 = 5 hours (overtime)

Standard
working week

39 hours

€22 x 39 = €858

Overtime rate

11/

standard
hourly rate

€1.55 x 5 (days) = €7.75

Tool allowance
(taxable)

€1.55 / day

€1.8 x 5 (days) = €9

Meal allowance
(taxable)

€1.80 / day

Total Gross = €1,039.75

Tax

21%

- Tax @ 21% =

€218.35

Net wage

=

€821.40

X3

= €2,464.20 Answer

€33 x 5
2

= €165 (hourly rate x 1.5)

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.

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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

Cost for 1
house

Flooring

€0.25 per metre run. (Less 2% trade
discount) 0.25 x 3,000 = €750 2% = 15

Labour

15 hours for each floor @ €25 per hour

Overheads

38% of labour costs

€375
€142.50

Subtotal
V.A.T.

750 -15 (2%)
= €735

€1,252.50
€125.25

+10%

Total for 1 house

€1,377.75

Total for 18 houses

€24,799.50


Slide 4

Carpentry & Joinery
Phase4 Maths

Job Costing

Sample Questions
& Solutions

Carpentry & Joinery
Phase4 Maths

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

Carpentry & Joinery
Phase4 Maths

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

Fraction
of Cost

Cost
%

Materials

33.3

33.3% of 3645 = €1,213.77

Labour

41.7

41.7% of 3645 = €1,519.97

Profit margin

16.7

16.7% 0f 3645 = € 608.72

VAT

8.3

8.3% of 3645 = € 302.54

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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%

Carpentry & Joinery
Phase 4
Module 3 Unit 6

Job Costing
Total hours = 4 x 9 + 8 = 44
Standard Hourly
rate

€ 22

44 – 39 = 5 hours (overtime)

Standard
working week

39 hours

€22 x 39 = €858

Overtime rate

11/

standard
hourly rate

€1.55 x 5 (days) = €7.75

Tool allowance
(taxable)

€1.55 / day

€1.8 x 5 (days) = €9

Meal allowance
(taxable)

€1.80 / day

Total Gross = €1,039.75

Tax

21%

- Tax @ 21% =

€218.35

Net wage

=

€821.40

X3

= €2,464.20 Answer

€33 x 5
2

= €165 (hourly rate x 1.5)

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.

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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

Cost for 1
house

Flooring

€0.25 per metre run. (Less 2% trade
discount) 0.25 x 3,000 = €750 2% = 15

Labour

15 hours for each floor @ €25 per hour

Overheads

38% of labour costs

€375
€142.50

Subtotal
V.A.T.

750 -15 (2%)
= €735

€1,252.50
€125.25

+10%

Total for 1 house

€1,377.75

Total for 18 houses

€24,799.50


Slide 5

Carpentry & Joinery
Phase4 Maths

Job Costing

Sample Questions
& Solutions

Carpentry & Joinery
Phase4 Maths

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

Carpentry & Joinery
Phase4 Maths

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

Fraction
of Cost

Cost
%

Materials

33.3

33.3% of 3645 = €1,213.77

Labour

41.7

41.7% of 3645 = €1,519.97

Profit margin

16.7

16.7% 0f 3645 = € 608.72

VAT

8.3

8.3% of 3645 = € 302.54

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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%

Carpentry & Joinery
Phase 4
Module 3 Unit 6

Job Costing
Total hours = 4 x 9 + 8 = 44
Standard Hourly
rate

€ 22

44 – 39 = 5 hours (overtime)

Standard
working week

39 hours

€22 x 39 = €858

Overtime rate

11/

standard
hourly rate

€1.55 x 5 (days) = €7.75

Tool allowance
(taxable)

€1.55 / day

€1.8 x 5 (days) = €9

Meal allowance
(taxable)

€1.80 / day

Total Gross = €1,039.75

Tax

21%

- Tax @ 21% =

€218.35

Net wage

=

€821.40

X3

= €2,464.20 Answer

€33 x 5
2

= €165 (hourly rate x 1.5)

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.

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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

Cost for 1
house

Flooring

€0.25 per metre run. (Less 2% trade
discount) 0.25 x 3,000 = €750 2% = 15

Labour

15 hours for each floor @ €25 per hour

Overheads

38% of labour costs

€375
€142.50

Subtotal
V.A.T.

750 -15 (2%)
= €735

€1,252.50
€125.25

+10%

Total for 1 house

€1,377.75

Total for 18 houses

€24,799.50


Slide 6

Carpentry & Joinery
Phase4 Maths

Job Costing

Sample Questions
& Solutions

Carpentry & Joinery
Phase4 Maths

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

Carpentry & Joinery
Phase4 Maths

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

Fraction
of Cost

Cost
%

Materials

33.3

33.3% of 3645 = €1,213.77

Labour

41.7

41.7% of 3645 = €1,519.97

Profit margin

16.7

16.7% 0f 3645 = € 608.72

VAT

8.3

8.3% of 3645 = € 302.54

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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%

Carpentry & Joinery
Phase 4
Module 3 Unit 6

Job Costing
Total hours = 4 x 9 + 8 = 44
Standard Hourly
rate

€ 22

44 – 39 = 5 hours (overtime)

Standard
working week

39 hours

€22 x 39 = €858

Overtime rate

11/

standard
hourly rate

€1.55 x 5 (days) = €7.75

Tool allowance
(taxable)

€1.55 / day

€1.8 x 5 (days) = €9

Meal allowance
(taxable)

€1.80 / day

Total Gross = €1,039.75

Tax

21%

- Tax @ 21% =

€218.35

Net wage

=

€821.40

X3

= €2,464.20 Answer

€33 x 5
2

= €165 (hourly rate x 1.5)

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.

Carpentry & Joinery
Phase 4
Module 3 Unit 6

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

Cost for 1
house

Flooring

€0.25 per metre run. (Less 2% trade
discount) 0.25 x 3,000 = €750 2% = 15

Labour

15 hours for each floor @ €25 per hour

Overheads

38% of labour costs

€375
€142.50

Subtotal
V.A.T.

750 -15 (2%)
= €735

€1,252.50
€125.25

+10%

Total for 1 house

€1,377.75

Total for 18 houses

€24,799.50