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Ans: Profit as per cost accounts 23.063)7. The Modern Radio Co. which started business on Ist April 2000 sets before you the following informationand asks you to prepare a statement showing profit per radio sold (charging labour and material at theactual cost, works overhead at 100% on labour and office overhead at 25% on works cost) and a statementshowing Reconciliation in Cost accounts and financial accounts. Profit for the year ending 31st March2001.Two grades of radio are manufactured known as Janta and Deluxe. The number of the radio sold wasJanta 160 units and Deluxe 95 units. The other particulars are:ParticularsJanta (3)Deluxe (5)Average Material Cost per radio2832Average Labour Cost per radio58Selling price per radio180240The works expenses in financial accounts were 3 16,800 and office expenses were *6.220.plz slove this |
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