Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need the answer as soon as possible Direct wages 31 The following figures are extracted from the books of an iron foundry afer the
I need the answer as soon as possible
Direct wages 31 The following figures are extracted from the books of an iron foundry afer the close of the year : Raw materials : Rs. Opening stock 14,000 Purchase during the year 1,00,000 Closing stock 10,000 20,000 Works overhead 50% on direct wages Stores overhead on materials 10% on the cost of materials 10% of the castings were rejected being not up to specification and a sum of Rs. 800 was realised from sale of scrap, 10% of the finished castings were found to be defective in manufacture and were rectified by expenditure of additional works overhead charged to the extent of 20% on the proportionate direct wages. The total gross output of castings during the year : 2,000 tons. Find out the manufacturing cost of the saleable castings per tonStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started