Sankalp Industries absorbs factory overhead costs at Rs. 2.50 per direct labour hour. Both opening and closing balances of WIP and finished goods inventories are zero.
Following are the data available for a year and the fact is that all goods produced have been sold.
|
Direct labour hours used |
50,000 |
|
Direct labour cost |
Rs. 1,00,000 |
|
Indirect labour cost |
Rs. 25,000 |
|
Indirect materials cost |
Rs. 10,000 |
|
Depreciation of plant & equipment |
Rs. 50,000 |
|
Miscellaneous factory overheads |
Rs. 50,000 |
Assuming that all goods produced have been sold:
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