Transcribed Image Text: 72 Cost and Management Accounting ractical Questions 1. Prepare an income statement under absorption costing and under marginal costing from the following information relating to the year

Transcribed Image Text: 72
Cost and Management Accounting
ractical Questions
1. Prepare an income statement under absorption costing and under marginal costing from the following information
relating to the year 2002.
Opening stock
Fixed cost
Variable cost
Production
Sales
Stock is valued on the basis of FIFO.
(Ans. Absorption costing profit Rs. 1,98,000, Marginal costing profit Rs. 1,70,000)
2. A factory engaged in manufa
1,000 units valued at Rs. 70,000 including variable cost of Rs. 50 per unit.
Rs. 1,20,000
Rs. 60 per unit
10,000 units and
1,000 units @ Rs. 100 per unit

(B. Com. Hons. Delhi)

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