Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Solve it correctly and step by step : PLEASE !!!! Cost Accounting and Management Accounting are the different branches of Accounting. Do you agree?

Please Solve it correctly and step by step :

PLEASE !!!!

image text in transcribed

Cost Accounting and Management Accounting are the different branches of Accounting. Do you agree? After elucidating the statement attempt the following practical question: PT Ltd. is engaged in manufacturing of a product and the following particulars have been extracted for the month of November, 2021: Particulars Cost of Materials Productive Labour Works Overheads Office and Administrative Overheads Selling Expenses Distribution Charges Profit Rs. 4,50,000 2,40,000 1,44,000 1,66,800 1,25,100 83,400 2,41,860 A work order has to be executed in December, 2021 and estimated expenses are: Materials - Rs. 32,000; Productive Labour - Rs. 20,000. In December, 2021 the rate of factory overheads has gone up by 15%, distribution charges have gone down by 10% while office & administrative expenses and selling expenses have each gone up by 12% as compared to November,2021. Suggest the price to be quoted in the market for December, 2021 production to earn the same rate of profit as in the month of November,2021. It is a practice of the manufacturing unit that factory overheads are charged on productive labour and all other overheads are charged on works cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Organizational Change

Authors: Barbara Senior, Stephen Swailes

5th Edition

1292063831, 9781292063836

More Books

Students also viewed these Accounting questions