I want answer this sum in step by step method överhead7. Ascertain the prime cost from the following :Rs.Direct wagesChargeable expensesOpening stock of raw materialsRaw materials bought during the periodClosing stock of raw materials50,0005,00010,00060,00020,000Carriage inwardsCarriage outwardsRaw materials returned to supplier1,5002,0001,500[Osmania, B.Com. April 1995][Ans : Prime cost : Rs. 1,05,000]Hint: Ignore carriage outwards.

Prime Cost = Raw materials consumed + Direct wages + Direct Expenses

1. Ascertain the prime cost from the following: Rs. Direct wages 50,000 Chargeable expenses 5,000 Opening stock of raw materials Raw materials bought during the period Closing stock of raw materials 10,000 60,000 20,000 1,500 Carriage inwards Carriage outwards Raw materials returned to supplier 2,000 1,500 (Osmania, B.Com. April 1995] [Ans : Prime cost : Rs. 1,05,000] Hint: Ignore carriage outwards.

1. Ascertain the prime cost from the following: Rs. Direct wages 50,000 Chargeable expenses 5,000 Opening stock of raw materials Raw materials bought during the period Closing stock of raw materials 10,000 60,000 20,000 1,500 Carriage inwards Carriage outwards Raw materials returned to supplier 2,000 1,500 (Osmania, B.Com. April 1995] [Ans : Prime cost : Rs. 1,05,000] Hint: Ignore carriage outwards.

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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