The following are the particulars regarding receipts and issues of certain material: The credit balance of price

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The following are the particulars regarding receipts and issues of certain material:

The credit balance of price variance account, before transfer to costing profit and loss account, was Rs. 500.

Calculate the standard rate at which the above issues should be made, and determine the value of closing stock.

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Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

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Question Posted: Aug 30, 2023 01:14 PM

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The following are the particulars regarding receipts and issues of certain material: The credit balance of price

Question:

Opening stock Purchased Issued Issued Issued Purchased 1,000 kg @ Rs. 9.00 per kg 5,000 kg @ Rs. 8.50 per kg 600 kg 3,750 kg 650 kg 2,500 kg @ Rs. 8 per kg

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The standard price at which the materials were issued in the last p...View the full answer

Cost Accounting

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