Question: The following data is provided by A Ltd. for the year ended 31 st March,2022: Manufacturing Overheads Actual 8,50,000 Applied 7,50,000 Work in progress 2,40,000

The following data is provided by A Ltd. for the year ended 31st March,2022:

Manufacturing Overheads

Actual
 8,50,000
Applied
 7,50,000
Work in progress
 2,40,000
Finished goods
 4,80,000
Cost of goods sold

16,80,000

Find out the impact of the unabsorbed overheads on the profit made by the company under:

  • Absorption costing method
  • Variable costing method

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The detailed answer for the above question is provided below Manufacturing Overhea... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The following data is provided for XYZ Company: Beginning Inventory 200 units @ 10...................$ 2,000 Purchase 350 units @ 15.........................................5,250 Purchase 450 units @...

Q:

In preparing the financial statements for the year ended 31 December 20X5 Alpha plc discovers the following, all of which are material in the context of the company's results: Development...

Q:

Suffolk plcs results for the year ended 31 st March 2021 were: Notes: On 20 th September 2020 Suffolk plc sold a warehouse for 140,000. The warehouse had been purchased in May 2015 for 120,000 and...

Q:

The financial year of Ladybird Ltd ends on 31 December. In order to avoid interference with trading, the inventory count for the year ended 31 December 2010 was carried out on 8 January 2011 when the...

Q:

The following information has been extracted from the books of Issa Ltd for the financial year ended 31 December 20X0. The company had commenced the preparation of its budget for the year ending 31...

Q:

The following summarized accounts have been prepared for Pill Limited: Additional information: 1. There were no sales of fixed assets during the year ended 31 May 2011. 2. The debentures were paid...

Q:

Advanced: Joint cost stock valuation and decision-making Milo pic has a number of chemical processing plants 1n the UK At one of these plants it takes an annual input of 400 000 gallons of raw...

Q:

The statements of comprehensive income for Highway plc, Road Ltd and Lane Ltd for the year ended 31 December 20X9 were as follows: Highway plc acquired 80% of Road Ltd for $160,000 on 1.1.20X6 when...

Q:

Zacotex Ltd, a manufacturer, produced the following financial information for the year ended 31 March 20X5. Additional information 1. The inventories held at 31 March 20X5 were: 2. One-quarter of the...

Q:

The only accounting entries made in respect of 73,000 received on 1 January 2011 as proceeds on disposal of boardroom furniture were posting of that amount to the Disposal account. The furniture...

Q:

Question three (25 marks) i) ii) ISA 315 Identifying and Assessing the Risks of Material Misstatement identifies Audit risk and business risk as the two major elements of total risk. Required:...

Q:

Baker Industries net income is $24,000, its interest expense is $5,000, and its tax rate is 40%. Its notes payable equals $27,000, long-term debt equals $75,000, and common equity equals $250,000....

Q:

- / 1 Points ] Find the second derivative. ( 5 4 x } f ' ' ( x ) = Need Help?

Q:

If methanol rather than water is added at the end of a Hell-Volhard-Zelinskii reaction, an ester rather than an acid is produced. Show how you could carry out the following transformation, and...

Q:

With reference to Exercise 11.3, (a) Evaluate s2; (b) Construct a 95% confidence interval for ; (c) Construct a 95% confidence interval for 3.

Q:

With reference to Exercise 11.1, (a) Evaluate s2, (b) Test; the hypothesis that = 0 against the alternative that 0 at the 0.05 level of significance and interpret the resulting decision.

Q:

With reference to Exercise 11.2, (a) Evaluate s2; (b) Construct a 95% confidence interval for ; (c) Construct a 95% confidence interval for 0.

Q:

A well-insulated shell-and-tube heat exchanger is used to heat water (cp = 4.18 kJ/kg C) in the tubes from 20 to 70C at a rate of 4.5 kg/s. Heat is supplied by hot oil (cp = 2.30 kJ/kg C) that...

Q:

Describe what you believe is the greatest challenge mental health organization faces today. Some examples include the complexity of change, changing workforce dynamics, and changing nature of work....

Q:

I need answers to these. Show work when necessary. Please work out all problems. Name______________________ ACC121 Comprehensive Final Multiple choice 5 points each 325 points 1. Which financial...

Q:

HI I need help to with my assessment. Anyone can help me? T-1.8.1 Details of Assessment Term and Year T2 2017 Time allowed Week 2, 3, 4, 5, 6, 7, 8 Assessment No 1 Assessment Weighting 60% Assessment...

Q:

HI I need help to with my assessment. Anyone can help me? T-1.8.1 Details of Assessment Term and Year T2 2017 Time allowed Week 2, 3, 4, 5, 6, 7, 8 Assessment No 1 Assessment Weighting 60% Assessment...

Q:

HI I need help to with my assessment. Anyone can help me? T-1.8.1 Details of Assessment Term and Year T2 2017 Time allowed Week 2, 3, 4, 5, 6, 7, 8 Assessment No 1 Assessment Weighting 60% Assessment...

Q:

This is tabag income taxation for co-ownership, estate and trust. Chapter Exercises - Co-ownership, Estates and Trust. 6. Question 1: Is a co-ownership taxable? Question 2: Is the share of co-owner...

Q:

Need help for reviewers Number 1 and 2 On December 31, 2020, Jamie, Anthony, and Barbie organized JAM partnership wherein Jamie contributed P3,200,000 for 20% interest in the partnership. Barbie...