Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following details are provided for 3 months ended 31 Dec 2023 of Company XYX Ltd: Partciulars Opening stock of Raw material Closing stock
The following details are provided for 3 months ended 31 Dec 2023 of Company XYX Ltd: Partciulars Opening stock of Raw material Closing stock of raw material Purchase of Raw Material Amount in $ 70,000.00 $ $ 30,000.00 Partciulars Discount Carriage inwards Collection charges Amount in $ 1,500.00 $ $ 4,000.00 $ 100,000.00 $ 500.00 Manufacturing wages $ 80,000.00 Technical Director fees $ 13,500.00 Unproductive Wages $ 10,000.00 Manager's Salary $ 18,000.00 Scrap Sale of raw material $ 1,000.00 Research expenses $ 8,000.00 Overtime $ 2,000.00 Goodwill written off $ 10,000.00 Depreciation $ 3,000.00 Cleaning $ 1,000.00 Insurance Bank interest Dividend Inspection $ 1,000.00 Puchase of journals/books $ 100.00 $ 6,000.00 Supervisor salary $ 6,000.00 $ 10,000.00 Postage $ 2,000.00 $ 1,000.00 Selling agent commission $ 1,500.00 Stores Loose tools Advertisement $ 4,000.00 Office electricity expenses $ 600.00 $ 10,000.00 Donations $ 150.00 $ 3,500.00 Income tax $ 750.00 10000 units were produced and sold. The company expects to have a margin of 20% on sales. Required A) Prepare a detailed cost sheet from the above and compute the total sales and selling price per unit. Please give details about your assumptions and why have you considered cost in specific heads.
Step 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