Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

the following information has been extracted from the cost sheet of a company , raw materials rs 45 per unit. direct labour rs 20 per

the following information has been extracted from the cost sheet of a company , raw materials rs 45 per unit. direct labour rs 20 per unit, overheads rs 40 per unit , total rs 105 per unit, profit rs 15 per unit, selling price rs 120 per unit. the following further information is available : 1. raw materials are in stock on an average two months. 2. the materials are in process on an average for 4 weeks. the degree of completion is 50 % in all rspects. 3. finished goods stock on an average is for one month. 4 time lag in payment of wages and overheads 1.5 weeks. 6. crredit allowed by suppliers is one month. 7. time

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

Contemporary Auditing Real Issues And Cases

Authors: Michael C. Knapp

6th Edition

0324303254, 9780324303254

More Books

Students also viewed these Accounting questions

Question

What conflicts of interest had to be resolved?

Answered: 1 week ago