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Calculate the following: (a) Prime cost (b) Factory cost (c) Production cost

Calculate the following: (a) Prime cost (b) Factory cost (c) Production cost

FINANCIAL ACCOUNTING
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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Calculate the following:
(a) Prime cost (b) Factory cost (c) Production cost
(d) The selling price per product to gain 12% profit when the production volume of the product is 15000.

2.4. A medium-scale company incurs the following costs for one of their products in particular financial year. (i) Materials purchased (ii) Materials in inventory (iii) Wages bonus to workers (engaged on jobs) (iv) Wages to laboratory assistants and others (v) Plant repair and maintenance (vi) Printing, stationery, postal charges (vii) Travelling allowance for sales representatives (viii) Rent on plant buildings (ix) Depreciation of plant (x) Water, light, cooling, heating of office (xi) Rent of offices (xii) Salary of office staff (xiii) Material unutilized and recoverable = Rs.370000 = Rs.71500 = Rs.79500 = Rs.9500 = Rs.5300 = Rs.1450 = Rs.3950 = Rs.4900 = Rs.700 = Rs.3250 = Rs.750 = Rs.5750 = Rs.29500
Transcribed Image Text:2.4. A medium-scale company incurs the following costs for one of their products in particular financial year. (i) Materials purchased (ii) Materials in inventory (iii) Wages bonus to workers (engaged on jobs) (iv) Wages to laboratory assistants and others (v) Plant repair and maintenance (vi) Printing, stationery, postal charges (vii) Travelling allowance for sales representatives (viii) Rent on plant buildings (ix) Depreciation of plant (x) Water, light, cooling, heating of office (xi) Rent of offices (xii) Salary of office staff (xiii) Material unutilized and recoverable = Rs.370000 = Rs.71500 = Rs.79500 = Rs.9500 = Rs.5300 = Rs.1450 = Rs.3950 = Rs.4900 = Rs.700 = Rs.3250 = Rs.750 = Rs.5750 = Rs.29500
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