Question

Cr.
Direct wages
12. Aashna Limited manufactured and sold 1,00,000 'Radio Mirchi' at its
full production capacity during the year 2016. The following is the profit and loss
account for year ended 31-12-2016 :
Dr.
Profit and Loss Account
Particulars
Rs.
Particulars
Rs.
Raw materials consumed 30,00,000 Sales
70,00,000
20,00,000 Net Loss
10,00,000
Factory overheads
10,00,000
Office overheads (fixed)
8,00,000
Selling overheads
12.00.000
80,00,000
80.00,000
During the year 2016, 80% of the factory overheads were fixed whereas 40%
selling overheads were variable including sales commission at Rs. 2.80 per ratio.
For the year 2017, it is estimated that ;
(1) Due to heavy recession in the market, the production will be reduced
te its 80% production capacity of which only 60,000 ratios will be sold.
Cost of raw materials and wages per unit will increase by 10%.
(3)
All fixed overheads will be reduced to 50%.
The company will manage the sales its own efforts and cancelled the
agreement of sales commission.
(5)
The sales price per unit will increase only by 10%.
From the above information, prepare the following statements :
(1) A statement of cost showing total as well as cost per unit and profit
for the year 2016, and
A statement of cost showing estimated profit for the year 2017,
[Guj. Uni., F. Y., April, 2003)
(Ans. : For 2016 : 1,00,000 units, Prime Cost Rs. 50,00,000, and per
unit Rs. 50 (Material 30 + Wages 20), Factory Exp. per unit Rs. 10 (Fixed
8 + Variable 2), Factory cost Rs. 60,00,000 and per unit Rs. 60. Production
cost Rs. 68,00,000 and per unit Rs. 68, Selling overhead exp. per unit Rs. 12
(2)
(4)​

Answer 1

Explanation:

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Answer 2

Explanation:

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