Question 5Flexible budget for a product as prepare by Anchor Ltd, is given below:Sales – unit10,00015,00020,000Rs.Rs.Rs.Sales800,0001.200,0001,600,000Manufacturing cost:Variable300,000450,000600,000Fixed200,000200,000200,000800.000Total manufacturing costMarketing and other expenses:500,000650,000Variable200,000300,000400,000FixedTotal Marketing and other expenseOperating income / (loss)160,000360,000(60,000)160,000460.000160,000560,000240,00090,000Additional information:The budget of 20,000 units will be used for allocating the fixed manufacturing cost to units of product.• At the end of first six months, 12,000 units have been completed and 6,000 units have been sold @ Rs.80 per unit.• All fixed costs are budgeted and incurred uniformly throughout the year and all costs incurred, coincide with budget.• The over or under applied fixed manufacturing cost is deferred unit the end of the year.(Note: Don't write Comma (,) Full stop (-) and any Rs. Signs in Answer just write in number (i.e. 10000, but not Rs.10,000))REQUIRED:Calculate the Gross Profit in Absorption Costing?

Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10.000 15,000 20,000 Rs. Rs. Rs. 800,000 Sales Manufacturing cost: Variable 1.200,000 1.600,000 300,000 200,000 500.000 450,000 600,000 200.000 650,000 200.000 800.000 Fixed Total manufacturing cost Marketing and other expenses: Variable Fixed 200,000 300,000 400,000 160,000 160.000 160,000

Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10.000 15,000 20,000 Rs. Rs. Rs. 800,000 Sales Manufacturing cost: Variable 1.200,000 1.600,000 300,000 200,000 500.000 450,000 600,000 200.000 650,000 200.000 800.000 Fixed Total manufacturing cost Marketing and other expenses: Variable Fixed 200,000 300,000 400,000 160,000 160.000 160,000

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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