Budgeted and actual fixed costs per month , Cost Accounting

Assignment Help:

Using  the  information below, list profit statements  for June and July using  (a) margin
costing and (b) absorption costing.

A company produces and sells 1 product only which sells for Rs. 50 per unit. There were  no stocks at the end of May and other information is as follows:
         
                                                                                       Rs.
  Standard cost per unit 
  Direct material                                                                 18
  Direct wages                                                                     4
  Variable production overhead                                              3
        
Budgeted and actual fixed costs per month  
    Fixed production overhead                                              99,000
    Fixed selling expenses                                                   14,000
    Fixed administration expenses                                       26,000
    Variable selling expenses                                        10% of sales value
 
Normal capacity is 11,000 units per month. 
The number of units produced and sold was: 
 
 
                                                         June       July
                                                        Units       units 
Sales                                              12,800      11,000
Production                                       14,000      10,200


Related Discussions:- Budgeted and actual fixed costs per month

Calculate break-even level of sales volume and revenue, Q. Calculate break-...

Q. Calculate break-even level of sales volume and revenue? Z-Boxes sell for £299 and their variable production cost is £99. Research and development, and fixed production overh

Income received in advance, This is the income received but not earned thro...

This is the income received but not earned throughout the accounting period. Conversely, this is the income for those services are to be rendered in future. Such income is deducted

Student, i asking for start up

i asking for start up

What is the margin of safety, Apollo Company manufactures a single product ...

Apollo Company manufactures a single product that sells for $168 per unit and whose total variable costs are $126 per unit. The company's annual fixed costs are $630,000. (1) Use t

Elements of non - manufacturing costs, Elements of Non - Manufacturing cost...

Elements of Non - Manufacturing costs Non-Manufacturing costs are costs incurred via all activities such support the production of services and goods. They are selling costs

Methods of inventory valuation, The beginning inventory balances of Item X ...

The beginning inventory balances of Item X on August 1 and the purchases of the item during the month of August were as follows: August 1 Beginning Inventory 600 units @ $10.00

Create the consolidated statement of comprehensive income, Question ...

Question The statements of comprehensive income for three entities for the year ended 30 September 2009 are presented below: SOT PB UV

Material cost, distinguish between bin card and store ledgre

distinguish between bin card and store ledgre

Standard costs establish the minimum desirable costs, Standard Costs Establ...

Standard Costs Establish the Minimum Desirable Costs When actual costs incurred exceed or else are below the standard costs, we after that investigate the variances along with

Cost element, Cost Element Stage 1. Cost Elements The raw data co...

Cost Element Stage 1. Cost Elements The raw data concern with Labour, Expenses, and Materials are gathered from Invoices, Payroll, and Requisitions and Goods Issued Notes

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd