[8] 2. a) There is divergence between financial profits and cost profits. Discuss reasons for this...
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[8] 2. a) There is divergence between financial profits and cost profits. Discuss reasons for this divergence with the help of suitable example. b) The inventory data information related to Edible International Ltd. For the month ending November,2021 is given below: Particulars Inventory Closing Finished Goods Work-in-progress Raw Material Factory Overheads. Direct Materials used Beginning Additional Information: Cost of goods available for sales Total goods processed during the period 2 Requirements: Rs.1,10,000 Rs. 70,000 Rs. 90,000 Rs.95,000 Rs. 80,000 Rs. 95,000 Rs.6,84,000 Rs.6,54,000 Rs. 1,67,000 Rs.1,93,000 a) Determine raw materials purchased during the year b) Determine direct labour cost incurred during the year c) Determine the cost of goods sold. [3+5=8] [8] 2. a) There is divergence between financial profits and cost profits. Discuss reasons for this divergence with the help of suitable example. b) The inventory data information related to Edible International Ltd. For the month ending November,2021 is given below: Particulars Inventory Closing Finished Goods Work-in-progress Raw Material Factory Overheads. Direct Materials used Beginning Additional Information: Cost of goods available for sales Total goods processed during the period 2 Requirements: Rs.1,10,000 Rs. 70,000 Rs. 90,000 Rs.95,000 Rs. 80,000 Rs. 95,000 Rs.6,84,000 Rs.6,54,000 Rs. 1,67,000 Rs.1,93,000 a) Determine raw materials purchased during the year b) Determine direct labour cost incurred during the year c) Determine the cost of goods sold. [3+5=8]
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Niebels Methods, Standards and Work Design
ISBN: 978-0073376318
13th edition
Authors: Andris Freivalds, Benjamin Niebel
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