PLEASE ANSWER ASAPPPPPPP!!!!!!!!!!!!!!!! A company commenced business on 1 March making one product only,...
70.2K
Verified Solution
Link Copied!
Question
Accounting
PLEASE ANSWER ASAPPPPPPP!!!!!!!!!!!!!!!!
A company commenced business on 1 March making one product only, the cost card of which is as follows; Direct labor Direct material Variable production overhead Fixed production overhead Standard production cost $5 $8 $2 $5 $20 The fixed production overhead figure has been calculated on the basis of a budgeted normal output of 36,000 units per annum. The fixed production overhead actually incurred in March was $15,000 Selling, distribution and administration expenses are: Fixed $10,000 per month Variable 15% of the sales value The selling price per unit if $50 and the number of units produced and sold were: Production 2,000 Sales 1,500 Prepare the marginal costing statements of profit or loss for March. (20 marks) Prepare the absorption costing statements of profit or loss for March (20 marks)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
PLEASE ANSWER ASAPPPPPPP!!!!!!!!!!!!!!!!