(b) An manufacturer produce a goods and sold all goods to a whole seller by adding 10% profit. The whole seller sold goods to a retailer by adding 5% margin that in turn sold goods to the customer by adding 5% cost and 10% margin of cost. VAT was paid and collected at each stage as per rule and rates. Show the amount of VAT at each stage and indicate the ultimate burden to the customer. The manufacturer incurred following expense in connection with its production: raw material Tk.7,00,000; direct wages Tk.1,50,000; manufacturing overhead Tk.2,00,000 administration expenses Tk.50,000; selling expenses Tk.30,000.

(b) An manufacturer produce a goods and sold all goods to a whole seller by adding 10% profit. The whole seller sold goods to a retailer by adding 5% margin that in turn sold goods to the customer by adding 5% cost and 10% margin of cost. VAT was paid and collected at each stage as per rule and rates. Show the amount of VAT at each stage and indicate the ultimate burden to the customer. The manufacturer incurred following expense in connection with its production: raw material Tk.7,00,000; direct wages Tk.1,50,000; manufacturing overhead Tk.2,00,000 administration expenses Tk.50,000; selling expenses Tk.30,000.

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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