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The following data relate to the manufacture of a standard product during a four week period ending June 30, 2019: (in ) Rs
The following data relate to the manufacture of a standard product during a four week period ending June 30, 2019: (in ) Rs. DM 3000 Wages 7000 Machine hours worked 1000 Machine hour rate 0.50 Office OH @ 20% on work cost Selling OH per unit 0.06 Units produced 20000 Units sold @ Re. 1 per unit 17000 Prepare a cost sheet for total and per unit; and profit total and per unit.
Expert Solution
Solution :
Particulars Amount
Raw Material Consumed 3000
Wages 7000
Machine O/H(1000*0.5) 500
Work Cost 10500
Office O/H(10500*20%) 2100
Selling O/H(20000*0.06) 1200
Total Cost 13800
Cost per unit=13800/20000=0.69
Profit per unit=1-0.69=0.31
Profit=Units sold*Profit per unit
=17000*0.31
=5270
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