2. The following particulars have been obtained from the cost records for the vear 307...
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Accounting
2. The following particulars have been obtained from the cost records for the vear 307 . Assume that all product manufactured during the year have beeb sold to earn a profit of 15% on selling price. Required: 1.Classify these costs according to the various cost terms such as 1 . Variable cost2. Fixed cost3. Selling and Administrative cost4. Direct Materials5. Direct Labour6. Manufacturing Cost7. Sunk cost8. Opportunity cost . Carefully study the classification of each cost. 2. Prepare the Cost sheet find out the 1. Material Consumed2. Prime cost3. Factory Cost4. Cost of production4. Cost of sale 3. Assume that all product manufactured during the year have been sold to earn a profit of 15% on selling price
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