From the following particulars, prepare a statement showing


Question Description:

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From the following particulars, prepare a statement showing: Prime cost Works cost Cost of production and Cost of sales Opening Stock of finished goods 9,750 Closing Stock of finished goods 11,100 Raw materials purchased 35,250 Carriage on materials purchased 850 Direct wages 18,450 Factory expenses 2,750 Selling expenses 2,450 Office on cost 1,850 Sales 75,000 Sale of scrap 250 Also show by what percentage the average selling price in the above case should be increased in order to double the net profit. (Kerala University – B.Com) (b) Works cost : Rs. 57,050 (c) Cost of production : Rs. 58,900 (d) Cost of sales : Rs. 60,000 Present Profit: Rs. 15,000 Required sales to earn double the profit = Rs. 90,000]

Answer

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