Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 15.000 10.000 Rs. 20,000 Rs. Rs. Sales 800,000 1.200,000 1.600,000 Manufacturing cost: Variable 300,000 200,000 500,000 450,000 200,000 650.000 600,000 Fixed 200.000 800,000 Total manufacturing cost Marketing and other expenses: Variable 200,000 160,000 360,000 (60,000) 300,000 160.000 460,000 90.000 400,000 160,000 560,000 240,000 Fixed Total Marketing and other expense Operating income / (loss) Additional 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 units in Finished Goods closing?

Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 15.000 10.000 Rs. 20,000 Rs. Rs. Sales 800,000 1.200,000 1.600,000 Manufacturing cost: Variable 300,000 200,000 500,000 450,000 200,000 650.000 600,000 Fixed 200.000 800,000 Total manufacturing cost Marketing and other expenses: Variable 200,000 160,000 360,000 (60,000) 300,000 160.000 460,000 90.000 400,000 160,000 560,000 240,000 Fixed Total Marketing and other expense Operating income / (loss) Additional 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 units in Finished Goods closing?

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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q9: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10,000 15,000 20,000 Rs. Rs. Rs. Sales 800,000 1,200,000 1,600,000 Manufacturing cost: Variable 300,000 450,000 600,000 Fixed 200,000 200,000 200,000 Total manufacturing cost 500,000 650,000 800,000 Marketing and other expenses: Variable 200,000 300,000 400,000 Fixed 160,000 160,000 160,000 Total Marketing and other expense 360,000 460,000…
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Q3: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10,000 15,000 20,000 Rs. Rs. Rs. Sales 800,000 1,200,000 1,600,000 Manufacturing cost: Variable 300,000 450,000 600,000 Fixed 200,000 200,000 200,000 Total manufacturing cost 500,000 650,000 800,000 Marketing and other expenses: Variable 200,000 300,000 400,000 Fixed 160,000 160,000 160,000 Total Marketing and other exp 360,000 460,000 560,000 Operating…