13. The following data relate to Socks Company for the year ended 31st December 2018: Cost of Production: Direct Materials: (Variable) RO.3,60,000; Direct Labour: (Variable) RO. 5,04,000. Manufacturing Overhead: Variable RO. 1,80,000; Fixed RO. 3,60,000 Sales Commission (Variable) RO. 1,08,000; Sales Salaries (Fixed) RO. 72,000 Administrative Expenses (Fixed) RO. 1,44,000 Units Produced 1,50,000; Units Sold (@RO. 18) 1,20,000 Beginning Inventory: Nil; Assume Direct Material and Direct Labour are direct costs. You are required to prepare Income Statement: Marginal Cost Income Statement. Absorption Costing Income Statement.

13. The following data relate to Socks Company for the year ended 31st December 2018: Cost of Production: Direct Materials: (Variable) RO.3,60,000; Direct Labour: (Variable) RO. 5,04,000. Manufacturing Overhead: Variable RO. 1,80,000; Fixed RO. 3,60,000 Sales Commission (Variable) RO. 1,08,000; Sales Salaries (Fixed) RO. 72,000 Administrative Expenses (Fixed) RO. 1,44,000 Units Produced 1,50,000; Units Sold (@RO. 18) 1,20,000 Beginning Inventory: Nil; Assume Direct Material and Direct Labour are direct costs. You are required to prepare Income Statement: Marginal Cost Income Statement. Absorption Costing Income Statement.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ht.6.
Need detail explanation Q. Find the breakeven point and provide the income statement at break even. ** attached image
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Subject: accounting