Question

how to calculate profit and loss in cost sheet​

Answer 1

$\huge\blue{ Following \: points}$

$\blue{ should \: be \: considered \: while }$

$\blue{ computing \: profit:}$

1. If Percentage of Profit is given on cost then amount of profit will be calculated as follows:

It is further assumed that 10% profit has to be earned, then-

Profit= (1,25,000 × 10)/100 = Rs 12,500

∴ Selling Price = Cost of Production + Profit

= Rs. 1,25,000 + 12,500

= Rs. 1,37,500 (look at figure 1 )

$\huge\pink{look \: at \: figure \: 1}$

2. Calculation of Profit on Selling Price:

When cost price is given and a certain percentage of profit on selling price has to be calculated, then following formula will be adopted –

$profit \: = \frac{cost \: price \: \times \%of \: of \: profit}{100 - \% \: of \: profit}$

On the basis of above information profit will be calculated as follows:

$profit = \frac{125000 \times 10}{100 - 10}$

$= \frac{125000 \times 10}{90}$

$= rs \: 13889$

3. Profit on Sale Price when Sale Price is Given:

$\huge\pink{look \: at \: figure \: 3}$

4. Profit on Cost Price when Sale Price is Given:

$\huge\pink{look \: at \: figure \: 4}$

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