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Prepare statement showing total and per unit cost and profit.

Prepare statement showing total and per unit cost and profit.

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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Mohini Shoes Co. manufactures two types of shoes A and 8. Production costs for the year ended March 31", 2015 were : Particulars Rs. Direct materials 15,00,000 Direct Wages 8,40,000 Production overheads 3,60,000 Total 27,00,000 There was no work in progress at the beginning or at the end of the year. It is ascertained that i. Direct material in type A shoes consists twice as much as that in type B shoes. i. The direct wages for type B shoes were 60% of those of type A shoes. i. Production overhead was the same per pair of A and B type. iv. Administrative overhead for each type was 150% of direct wages Selling cost was Rs. 1.50 per pair. Production during the year were V. vi. Type A: 40,000 pairs of which 36,000 were sold Type B:1,20,000 pairs of which 1,00,000 were sold Selling price was Rs. 44 for type A and Rs. 28 for type B per pair. vii. Prepare statement showing total and per unit cost and profit.
Transcribed Image Text:Mohini Shoes Co. manufactures two types of shoes A and 8. Production costs for the year ended March 31", 2015 were : Particulars Rs. Direct materials 15,00,000 Direct Wages 8,40,000 Production overheads 3,60,000 Total 27,00,000 There was no work in progress at the beginning or at the end of the year. It is ascertained that i. Direct material in type A shoes consists twice as much as that in type B shoes. i. The direct wages for type B shoes were 60% of those of type A shoes. i. Production overhead was the same per pair of A and B type. iv. Administrative overhead for each type was 150% of direct wages Selling cost was Rs. 1.50 per pair. Production during the year were V. vi. Type A: 40,000 pairs of which 36,000 were sold Type B:1,20,000 pairs of which 1,00,000 were sold Selling price was Rs. 44 for type A and Rs. 28 for type B per pair. vii. Prepare statement showing total and per unit cost and profit.
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