Question

13. Hero cycles Ltd. manufactures two sizes of cycle parts, size A and size B. The following data
refer to the year ended 31st March, 2018.

All expenses other than wages and materials are analysed under Works Overheads which
during the year amounted to 9,000 and Office Overheads which amounted to 10,000.
In fixing the selling price, it was estimated that works overhead expenses should be taken at
50 per cent on wages and office overhead expenses at 33 } % on works cost.
You are required to compute the following:
a. the total cost of each unit on the basis of above overhead percentages.
b. the net profit for the year shown by the financial accounts, valuing unsold stock at actual
material and wages cost plus works overhead at 50% on wages.
c. The reconciliation of net profit in (b) above with the estimated total net profit based on
cost figures.​

Answer 1

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