Question

Q-3) B Ltd. Manufactures product A, which yields two by-product B and C. The actual joint
expenses of manufacture for a period were Rs.8, 000/-It was estimate that profits on each
product as a percentage of sales would be 30%, 25% and 15% respectively.
Subsequent expenses were:
A B C
Material. 100 75 25
Direct Wages 200 125 50
Overheads. 150 125 75
Sales 450 325 150
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6000 4000 2500
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Prepare a statement showing the apportionment of the joint expenses of manufacture over thedifferent products. Also presume the selling expenses are apportioned over the products as a
percentage to sales.
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Answer 1

Answer:

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)

(1) Goods A/C

(2) Wages A/C

(3) Loan A/C

(4) Debtors A/C

(5) Creditors A/C

(6) Furniture A/C

(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C

(10) Discount A/C

(11) Rent Received A/c (12) Building A/C

CANA