Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The accounts of Sharp Manufacturing Co. for the year ended 31st March, 2021, give the following data: Production wages Direct material used Chargeable expenses

image text in transcribed

The accounts of Sharp Manufacturing Co. for the year ended 31st March, 2021, give the following data: Production wages Direct material used Chargeable expenses 360,000 428,200 41,000 Sales Power and Fuel 1,100,000 12,000 Office salaries Carriage outward 25,800 7,400 Bad debts written off 9,000 Rent, rates and taxes (i) Office (ii) Works Travelling expenses Travellers' salaries and commission Depreciation on plant and machinery 6,000 17,400 8,600 14,500 8,500 Depreciation on office furniture 4,000 Gas and water (3/4 Factory, 1/4 Office) 13,600 Manager's salary (3/4 Factory, 1/4 Office) 36,000 10,000 General expenses 11,000 Hire of crane Time len Prepare a statement showing (i) Prime Cost (ii) Factory Cost and (iii) Total Cost and (iv) Net Profit. Maximum file size: 20MB, maximum number of files: 1

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

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav

14th Edition

978-0132960649, 132960648, 132109174, 978-0132109178

More Books

Students also viewed these Accounting questions