Class 12 Cost Sheet & Tender Sheet||Old is Gold solution||2066 Q.N.21||8 Marks|Unit & output Costing
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Class 12 Cost Sheet & Tender Sheet||Old is Gold solution||2066 Q.N.21||8 Marks|Unit & output Costing
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2066 Q.N.21. The following particulars are extracted from the cost records of the last month.
Direct materials used…........20,000 kgs @ Rs. 10 per kg
Direct labour cost……… 100% of cost of materials
Factory overheads…………. 50% of direct labour
Administrative overheads………… 10% of factory cost
The following estimations were made for submitting a tender:
i. The estimated cost of materials is Rs. 30,000.
ii. Direct labour Rs. 30,000.
iii. Factory and administrative overheads will maintain the same relationship as in the last month.
iv. A profit of 20% on selling price is to be maintained.
Required: A statement of cost and tender price showing:
a. Prime cost b. Factory cost c. Cost of Production d. Profit e. Tender Price/selling price
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