13. The following data relate to Socks Company for the year ended 31st December 2018: Cost of Production: Direct Materials: (Variable) RO.3,60,000; Direct Labour: (Variable) RO. 5,04,000. Manufacturing Overhead: Variable RO. 1,80,000; Fixed RO. 3,60,000 Sales Commission (Variable) RO. 1,08,000; Sales Salaries (Fixed) RO. 72,000 Administrative Expenses (Fixed) RO. 1,44,000 Units Produced 1,50,000; Units Sold (@RO. 18) 1,20,000 Beginning Inventory: Nil; Assume Direct Material and Direct Labour are direct costs. You are required to prepare Income Statement: Marginal Cost Income Statement. Absorption Costing Income Statement.
13. The following data relate to Socks Company for the year ended 31st December 2018: Cost of Production: Direct Materials: (Variable) RO.3,60,000; Direct Labour: (Variable) RO. 5,04,000. Manufacturing Overhead: Variable RO. 1,80,000; Fixed RO. 3,60,000 Sales Commission (Variable) RO. 1,08,000; Sales Salaries (Fixed) RO. 72,000 Administrative Expenses (Fixed) RO. 1,44,000 Units Produced 1,50,000; Units Sold (@RO. 18) 1,20,000 Beginning Inventory: Nil; Assume Direct Material and Direct Labour are direct costs. You are required to prepare Income Statement: Marginal Cost Income Statement. Absorption Costing Income Statement.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter7: Variable Costing For Management
analysis
Section: Chapter Questions
Problem 9E: The following data were adapted from a recent income statement of Caterpillar Inc. (CAT) for the...
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