6.The following information has been obtained from the cost records of modern Works ltd., for three...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6656e2612bd6c_0806656e260ac960.jpg)
Transcribed Image Text:
6.The following information has been obtained from the cost records of modern Works ltd., for three months ending 31st March, 2022 during which 100 units are produced and all the units are sold @Rs. 3,000 per unit. Materials Purchased Carriage paid on Purchase Particulars Stock of raw materials (1-1-2021) Stock of raw materials (31-3-2022) Amount 18000 21000 162000 3000 Depreciation on Plant 6000 Repairs to plant 2000 Factory rent, taxes and insurance Indirect materials 7000 11000 Indirect labor Direct labor 9000 28000 Depreciation on Furniture 3000 Printing and stationery Office salaries and allowances 1500 14500 Advertising Warehouse rent Salesmen's salary and commission 2400 2000 2600 Prepare a Cost Sheet showing the following information: a) Prime Cost b) Works Cost c) Cost of Production d) Cost of Sales e) Total Cost f) Profit 6.The following information has been obtained from the cost records of modern Works ltd., for three months ending 31st March, 2022 during which 100 units are produced and all the units are sold @Rs. 3,000 per unit. Materials Purchased Carriage paid on Purchase Particulars Stock of raw materials (1-1-2021) Stock of raw materials (31-3-2022) Amount 18000 21000 162000 3000 Depreciation on Plant 6000 Repairs to plant 2000 Factory rent, taxes and insurance Indirect materials 7000 11000 Indirect labor Direct labor 9000 28000 Depreciation on Furniture 3000 Printing and stationery Office salaries and allowances 1500 14500 Advertising Warehouse rent Salesmen's salary and commission 2400 2000 2600 Prepare a Cost Sheet showing the following information: a) Prime Cost b) Works Cost c) Cost of Production d) Cost of Sales e) Total Cost f) Profit
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
After reviewing the financial statements of Bearden Company, Todd Howard concluded that the company was a service company. Mr. Howard based his conclusion on the fact that Beardens financial...
-
Using the data in questions 12 and 13, what is the overhead volume variance for June? Is the variance favorable or unfavorable?
-
Two banks, First Fidelity Bank and First Union Bank, have offered to process Zacks retail charge card payments. First Fidelity will process the payments for a fee of $0.15 per payment with no...
-
True or false - A disregarded entity exists for tax purposes, but is disregarded for legal purposes.
-
Can an organization evolve to become a servant leadership - based organization? Are there documented results of this leadership style?
-
The total budget for launching a credit card is $1,000,000. New product targets customer from z generation and it will be distributed visa call centre and company website. one deliverable is call...
-
Discuss the concept of genetic linkage and how it relates to the physical distance between genes on chromosomes, as well as its significance in genetic mapping and understanding patterns of...
-
You are a sales representative of an Estonian company and your job is to broker domestic wild berries to the UK market. You have just reached an agreement to deliver 60 000 kg of berries to UK at a...
-
The Nantucket Nugget's current debt-to-equity ratio is 40% and pays no taxes. The firm currently has $4 million worth of debt outstanding. Nantucket is considering increasing its debt-to-equity ratio...
-
A company invested in a material handling equipment for $250,000. The installation costs incurred were $50,000. The material handling equipment has a MACRS-GDS 5-year property class. The BT&LCF...
-
Classify system of linear equations. Describe when a system of linear equations has no solution, unique solution and more than one solution. 1. Test the consistency of the following system of linear...
-
What are the totals of the Debit and Credit columns from the cash payments journal for the month of March? Total debits: Total credits:
-
What are the totals of the Debit and Credit columns from the general journal report (before adjusting entries) for the month of March? Total debits: Total credits:
-
The New menu command clears any existing data from memory in preparation for setting up a new system. (True/False)
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App