Question

a. Rate per
bour=Rs.1.50 per hour Time allowed for job = 20 hours. Time taken = 15 hours
The total earnings of the worker under the Halsey Plan 26.25 6. 30.00 22.50 d 26.52


b. Calculate Stock Turnover Ratio: Annual sales = Rs. 200.000 Gross Profit=20% on cost of
Goods Sold Opening stock =Rs. 38,500 Closing stock =Rs 41.500
a) 4.00 b) 4.50 c) 4.17 d) none
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Answer 1

Answer:

ANSWER

Stock turnover ratio = Cost of goods sold/Average inventory

6 = Cost of goods sold/ 8000

Cost of goods sold = Rs.48000

Selling price = 25 % above cost

Therefore Gross profit = Cost of goods sold x 25%

= 48000 x 25%

= Rs.12000