As on 31 st March, 2016, the profit of a company was ₹36,450 as per financial records. The following summary of transactions is given for the same period : ₹ Obsolescence loss in respect of machinery charged in financial
CS Executive · Cost and Management Accounting · PYQS · December 2016
As on 31 st March, 2016, the profit of a company was ₹36,450 as per financial records. The following summary of transactions is given for the same period : ₹ Obsolescence loss in respect of machinery charged in financial accounts 2,450 Administrative overheads over-recovered in cost accounts 1,650 Closing stock understated in cost accounts 4,600 The amount of profit as per cost accounts will be —
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Cost Accounting
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