A factory produces a standard product. The following information is given to you from which you are required to prepare

Question:

A factory produces a standard product. The following information is given to you from which you are required to prepare a cost sheet for January 2000.

Factory overheads 80% of direct wages
Office overheads 10% of works cost
Selling and distribution expenses Rs 2 per unit sold
Units produced and sold during the month 10,000

Also find the selling price per unit on the basis that profit mark up is uniformly made to yield a profit of 20% of the selling price. There was no stock or work-in-progress either at the beginning or at the end of the period.

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Related Book For  answer-question

Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

Question Details
Chapter # 2- COST CONCEPTS AND CLASSIFICATIONS
Section: Problems
Problem: 2
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Question Posted: August 30, 2023 14:06:49