Prepare cost sheet of a machine and calculate the price with which the company should quote for the manufacture of a machine requiring materials at Rs. 1,250, productive wages Rs. 750 and factory overhead Rs. 150 so that the price may yield a profit of 20% on selling price. You are given the accounts of the company manufacturing the type machines referred to the above for the 6 months ending 31st December, as further details:
|
Materials used |
Rs. 1,50,000 |
|
Productive wages |
Rs. 2,40,000 |
|
Factory overhead |
Rs. 24,000 |
|
Other expenses |
Rs. 17,640 |