Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Instant answer within 5 minutes please don't waste my turn 3 GVR Ltd. manufactures ball-bearings. The relevant figures for the month of June, 2012 were

image text in transcribed

Instant answer within 5 minutes please don't waste my turn 3 GVR Ltd. manufactures ball-bearings. The relevant figures for the month of June, 2012 were as follows: Rs. Cost of raw materials consumed Wages and salaries : Works (75% direct) Office 50,000 1,00,000 8,000 Showroom 3,000 Rent and rates: Works 8,500 Office 12,000 Showroom 1,000 Power 5,000 Lighting and heating : Works Office 3,500 200 Showroom 600 100 Depreciation : Machinery 1,750 Office equipment 3,550 Showroom equipment In addition to the above, the following expenditure estimated for the full financial year: Advertising 24,000 Sundry expenditure : Works (25% direct) 60,000 Office 30,000 6,000 Showroom The output for June was 1,000 ball-bearings and 800 ball-bearings were sold during the month. The selling price of each ball-bearing was Rs. 300 and the salesmen received a commission of 5% on the sale price of every ball-bearing sold. From the above prepare a cost statement

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

12th Edition

9780073526706

Students also viewed these Accounting questions