The following data is available for Lucky Soap Manufacturing Co for the year ended 31st March 2020:
Question:
The following data is available for Lucky Soap Manufacturing Co for the year ended 31st March 2020: -
Particulars Amt (Rs)
Stock of Materials: Opg 1, 75,000
Closing stock 2, 00,000
Materials purchased during the year 7, 50,000
Direct wages paid 2, 25,000
Indirect Wages 28,000
Salaries to administrative staff 40,000
Repairs to plant and machinery 36,800
Electricity Charges 50,000
Office Expenses 7,300
Travelling expenses 18,000
Sales men have and commission 28,000
Depreciation written off: Plant and machinery 36,400
Depreciation written off: Office Furniture 5,400
Office Manager's salary 48,000
Rent, rates and Taxes- Office 7,500
Rent, rates and Taxes- Factory 12,000
Fuel 64,000
a. Calculate the Factory overheads and Other Overheads. (5 Marks)
b. Assist the MD of the company in calculating the following:- -
- Prime Cost
- Factory Cost and
- Cost of Sale
Minimum Sales amount if the profit margin has to be fixed at 20% on Cost. (5 Marks)
The answer should be in a word format, Not writing in-plane paper. It should be a plagiarism-free. And a min of 800 words
Expert Answer:
Factory Overhead are the cost incurred during the manufacturing process These expenses are as under a FACTORY OVERHEAD PARTICULSR AMOUNT DIRECT WAGES ... View the full answer
