Answered step by step
Verified Expert Solution
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 !!!!
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 costStep 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