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The following details have been obtained from the cost records of Comet Paints Limited: Prepare a production account giving the

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The following details have been obtained from the cost records of Comet Paints Limited: 

Prepare a production account giving the maximum possible break-up of costs and profit.

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Stock of raw materials on Sept. 1, 2007 Stock of raw materials on Sept. 30, 2007 Direct wages Indirect wages Sales Work-in-progress on Sept. 1, 2007 Work-in-progress on Sept. 30, 2007 Purchases of raw materials Factory rent, rates and power Depreciation of plant and machinery Expenses on purchases Carriage outwards Advertising Office rent and taxes Travellers, wages and commission Stock of finished goods on Sept. 1, 2007 Stock of finished good on Sept. 30, 2007 Rs. 75,000 91,500 52,500 2,750 2,11,000 28,000 35,000 66,000 15,000 3,500 1,500 2,500 3,500 2,500 6,500 54,000 31,000

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To prepare a production account for Comet Paints Limited we need to calculate the various costs and profits associated with the production process The …View the full answer


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Related Book For  answer-question
Cost Accounting

Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

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Question Details
Chapter # 9- COSTING METHODS AND ACCOUNTING OF COSTS..
Section: Problem
Problem: 2
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Question Posted: September 05, 2023 06:19:19
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