The financial records of a company showed a net profit of ₹6,70,000 for the period ended 31st March, 2015. On further examination of cost and financial records, the following facts were discovered : ₹ Works overheads und
CS Executive · Cost and Management Accounting · PYQS · December 2015
The financial records of a company showed a net profit of ₹6,70,000 for the period ended 31st March, 2015. On further examination of cost and financial records, the following facts were discovered : ₹ Works overheads under-recovered in cost 16,240 Office overheads over-recorded in cost 4,000 Interest on investments not included in cost 16,000 The profit as per cost records is —
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Reconciliation of Cost and Financial Accounts
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