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Z Ltd operates a system of standard cost. The following data was taken from the...

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Accounting

Z Ltd operates a system of standard cost. The following data was taken from the records of the company for the year ended 31st March 2023: Standard cost card per unit of production: Material Rs.2, labour (Rs.3/hr.) Rs.6, Variable overhead (Rs.5/hr.) Rs.10, Fixed overhead Rs. 12. Normal capacity level of production 5,000 units during the year, Material cost incurred (4,200 units) Rs.6,820, Wages paid (Actual hours worked 7,500) Rs.24000, Variable expenses incurred Rs.43,000 and Fixed expenses incurred Rs.50,000.

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