During the year ended 31 st March, 2015, the profit of the company is ₹63,450 as per financial records. The following details are given : Opening stock overstated in cost accounts: ₹8,500 Closing stock understated in cos
CS Executive · Cost and Management Accounting · PYQS · June 2016
During the year ended 31 st March, 2015, the profit of the company is ₹63,450 as per financial records. The following details are given : Opening stock overstated in cost accounts: ₹8,500 Closing stock understated in cost accounts: ₹7,600 Factory overheads under recovered in cost accounts: ₹4,500 The profit as per cost accounts will be —
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Reconciliation of Cost and Financial Accounts
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