cost and management accounting

Cost Sheet Preparation

Q1. The following details have been extracted from Sam Ltd.’s books of accounts for the year ending March 31, 2023. The manager of the company is shared and divides his time between the factory and the office in the ratio of 20:80. You are required to compute: (a)prime cost, (b) factory overhead, (c) factory cost, …

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Income Statement under Marginal Costing Method

Question 1:Office Products Ltd provides the Sales and the cost data for 60,000 units as given below. At full capacity the plant can produce 100,000 units Sales Rs. 12,00,000Costs:Variable:Material Rs. 2,40,000Labour Rs. 3,60,000Overheads Rs. 1,80,000Fixed Cost Rs. 3,20,000Total Rs.11,00,000PROFIT Rs. 1,00,000Prepare the Income statement under marginal costing for production at 80,000 units. Online and offline …

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