Define balancing in accounting?

0 Answers  

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WHAT IS SHARE OPTION OUTSTANDING ACCOUNT??

1 Answers   National Institute of Food Technology Entrepreneurship and Management NIFTEM,

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IS there any duty on freight charges on import duty? If yes, what is the percentage?

4 Answers  

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Why we show always closing stock in credit?

8 Answers   FactSet Systems,

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What is the difference between the accrual accounting and cash accounting?

0 Answers  

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How to calculate interests?

1 Answers  

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1. During the current period, ABC Ltd sold 60,000 units of product at Rs. 30 per unit. At the beginning for the period, there were 10,000 units in inventory and ABC Ltd manufactured 50,000 units during the period. The manufacturing costs and selling and administrative expenses were as follows: Total cost Number of units Unit cost Rs. Rs. Beginning inventory: Direct materials 67,000 10,000 6.70 Direct labour 1,55,000 10,000 15.50 Variable factory overhead 18,000 10,000 1.80 Fixed factory overhead 20,000 10,000 2.00 Total 2,60,000 26.00 Current period costs: Direct materials 3,50,000 50,000 7.00 Direct labour 8,10,000 50,000 16.20 Variable factory overhead 90,000 50,000 1.80 Fixed factory overhead 1,00,000 50,000 2.00 Total 13,50,000 27.00 Selling and administrative expenses: Variable 65,000 Fixed 45,000 Total 1,10,000 Instructions: 1. Prepare an income statement based on the variable costing concept. 2. Prepare an income statement based on the absorption costing concept. 3. Give the reason for the difference in the amount of income from operations in 1 and 2.

3 Answers  

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What is differed revenue expendature?

2 Answers   FIC,

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what will you achieve for the company if you are employed to work

2 Answers   ABC, Al Hamra Fort Hotel, Anglo Platinum, Hotel Jobs, Marriott, Total,

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what is depreciation

3 Answers  

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While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated

0 Answers  

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what is the difference between backup and restore in tally software pls tell me friends?

2 Answers  

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