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Shaheen ltd manufactures around 10,000 machines in a month. The break-up of unit cost is as under:
Direct material Rs.750
Direct labor Rs.300
Factory overhead Rs.750
Selling price of machine is Rs. 2,400 and one fifth of the Factory overheads are fixed. Sale and production of the period 1, 2 and 3 given below:
Period 1 Period 2 Period 3
Production (units) 10,000 8,000 11,000
Sales 8,000 9,000 12,000
Production can be increase to 11,000 units without a corresponding increase in Fixed overhead.
Required:
Question a) Prepare separate operating statements on marginal costing and absorption costing for three periods.
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