VIDESheet, Tenders and QuotationsCost6. Calculate Prime Cost: Factory Expenses-Rs. 10,000; Selling Expenses-Rs. 5,000;Direct Material - Rs. 20,000; Office overhead - Rs. 7,000; Direct Labour -Rs. 15,000 and Direct Expenses - Rs. 3,000.Hints: Ignore Selling Expenses, Factory Expenses and office overhead7. Ascertain the prime cost from the following:Direct wagesChargeable expensesOpening stock of raw materialsRaw materials bought during the periodClosing stock of raw materialsCarriage inwardsCarriage outwardsRaw materials returned to supplierHint: Ignore carriage outwards.8. Calculate works cost:Factory expensesOffice expensesSelling expensesMaterial consumed[Madras, B.Com(PZSA) Nov. 2008][Ans: Primecost Rs.: 38,000]Office stationeryFactory lightingWorks Manager's SalaryIndirect MaterialsAudit feeForeman's SalaryShot on Y15Vivo Ai cameraaudit feesRs.7003009003,400Hint: Ignore office and selling expenses.9. Find out the amount of production overhead:Rs.50,0005,00010,00060,00020,0001,5002,0001,5002.47[Osmania, B.Com. April 1995][Ans: Prime cost : Rs. 1,05,000][Madras, B.Com. (PZSA) April 2006][Ans: Rs. 4,100]Rs.5,00010,00022,0009,00013.00013,000[Ans: Rs. 54,000

The prime costs include the total direct costs incurred for the production. Prime cost = Direct…

Rs. 15,000 and Direct Expenses - Rs. 3,000. Direct wages Chargeable expenses Opening stock of raw materials 7,000; Direct Labour [Madras, B.Com(PZSA) Nov. 2008] (Ans: Primecost Rs.: 38,000] nts: Ignore Selling Expenses, Factory Expenses and office overhead 7. Ascertain the prime cost from the following: Raw materials bought during the period Closing stock of raw materials Carriage inwards Carriage outwards Raw materials returned to supplier Rs. 50,000 5,000 10,000 60,000 20,000 1,500 2,000 1,500 [Osmania, B.Com. April 1995] [Ans: Prime cost: Rs. 1,05,000]

Rs. 15,000 and Direct Expenses - Rs. 3,000. Direct wages Chargeable expenses Opening stock of raw materials 7,000; Direct Labour [Madras, B.Com(PZSA) Nov. 2008] (Ans: Primecost Rs.: 38,000] nts: Ignore Selling Expenses, Factory Expenses and office overhead 7. Ascertain the prime cost from the following: Raw materials bought during the period Closing stock of raw materials Carriage inwards Carriage outwards Raw materials returned to supplier Rs. 50,000 5,000 10,000 60,000 20,000 1,500 2,000 1,500 [Osmania, B.Com. April 1995] [Ans: Prime cost: Rs. 1,05,000]

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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