Modern Manufacturing Company purchased a material of 20 tonnes from a mining company. The following data is
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Modern Manufacturing Company purchased a material of 20 tonnes from a mining company. The following data is available for the lot of material purchased:
(a) Invoice price of material @ Rs. 2,000 per tonne
(b) Trade discount @ 20% on invoice price
(c) Excise duty @ 10% on invoice price
(d) Sales tax @ 10%
(e) Freight and insurance @ 2%
(f) Other charges for delivery @ Rs. 100 per tonne
(g) Cost of containers @ Rs. 20 per box of 1 quintal (100 kg)
(h) Cost of loading and unloading @ 1% of total cost
Compute total material purchase cost and cost per tonne to Modern Manufacturing Company.
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