Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information has been taken from the accounting records of Fortune Company for last year: Name of Items TK. Raw Materials Used 520,000 Direct

image text in transcribed

The following information has been taken from the accounting records of Fortune Company for last year: Name of Items TK. Raw Materials Used 520,000 Direct Labor 280,000 Factory Depreciation (Building & Machine) 100,000 Indirect Labor (Fixed) 180,000 Variable Factory Overhead 60,000 Fixed Administrative Expense 225,000 Sales Commission (variable i.e. 10% on sales) 140,000 Fixed Selling Expense 120,000 Sales Revenue (10,000 units @ Taka 140 per unit) 14,00.000 During first year of their operation, the company produced 12,000 units and sold 10,000 units of goods. There was no ending work in process. Requirement: Calculate (brief calculations must be shown) the following cost information for the first year: (Marks:4*4=16) i) Per Unit Manufacturing Cost ii) Per Unit Variable Cost (on units sold) iii) Total Period (Non-Manufacturing) Cost iv) Total Contribution Margin

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

Internal Audit In Higher Education

Authors: Alison Holmes, Sally Brown

1st Edition

0749433000, 978-0749433000

More Books

Students also viewed these Accounting questions

Question

x-3+1, x23 Let f(x) = -*+3, * Answered: 1 week ago

Answered: 1 week ago

Question

11. Are your speaking notes helpful and effective?

Answered: 1 week ago

Question

The Goals of Informative Speaking Topics for Informative

Answered: 1 week ago