Ans. Total Cost 20,000; Selling price 26,667. 34. M/s Hind Shoes Co. manufactures two types of shoes A and B. Production costs 00007 for the year ended 31st March, 2019 were as follows : 5,20,000 Direct Material ,20,000 Direct Wages Production Overhead 27,00,000 It is ascertained that-(a) Direct Material in type A shoes consist twice as much as that in type B shoes. (b) The Direct Wages for type B shoes were 60% of those of type A shoes. (c) Production Overhead was the same per pair of A and B type. (d) Administration overhead for each type was 150% of direct wages. (e) Selling overhead was 15 per pair. Production during the year was : Type A 4,000 pairs of which 3,600 were sold: Type B 12,000 pairs of which 10,000 were sold. Selling price was 440 for type A and 280 for the type B per pair. Prepare a Statement Showing Cost and Profit. Ans. Cost of Sales : Type A 375; Type B R 225; and Profit : Type A 65 and inning O Total per Ibs. DO Ibs;

Ans. Total Cost 20,000; Selling price 26,667. 34. M/s Hind Shoes Co. manufactures two types of shoes A and B. Production costs 00007 for the year ended 31st March, 2019 were as follows : 5,20,000 Direct Material ,20,000 Direct Wages Production Overhead 27,00,000 It is ascertained that-(a) Direct Material in type A shoes consist twice as much as that in type B shoes. (b) The Direct Wages for type B shoes were 60% of those of type A shoes. (c) Production Overhead was the same per pair of A and B type. (d) Administration overhead for each type was 150% of direct wages. (e) Selling overhead was 15 per pair. Production during the year was : Type A 4,000 pairs of which 3,600 were sold: Type B 12,000 pairs of which 10,000 were sold. Selling price was 440 for type A and 280 for the type B per pair. Prepare a Statement Showing Cost and Profit. Ans. Cost of Sales : Type A 375; Type B R 225; and Profit : Type A 65 and inning O Total per Ibs. DO Ibs;

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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