Question 24 Chapter 6-Unimax Publication Class 12 Part 2

Question 24 Chapter 6 – Unimax Publication Class 12 Part 2 – 2021

Table of Contents

The solution of Question 24 Chapter 6 – Unimax Publication Class 12 Part 2-2021 : –

Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution

Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution

Prepare common size income statement from the following information.

Particulars	2022	2021
Revenue from operation	1,20,000	1,00,000
Cost of material consumed	87,200	70,000
Direct expenses	20,000	10,000
Other expenses	10% of material consumed	10% of material consumed
Miscellaneous incomes	2,000	1,500

The solution of Question 24 Chapter 6 – Unimax Publication Class 12 Part 2-2021 : –

Common Size Income statement
As on 2021 & 2022

Particulars	2021	Percentage	2022	Percentage
Revenue form operation	1,00,000	100.00	1,20,000	100.00
Add other income	1,500	1.50	2,000	1.67
Total revenue	1,01,500	1,01.50	1,22,000	101.67
Less expenses
Cost of material consumed	70,000	70.00	1,22,000	72.67
Direct expenses	10,000	10.00	20,000	16.67
Other exp.	7,000	7.00	8,720	7.27
Total expenses	87,000	87.00	1,15,920	96.6
Net Profit before tax	14,500	14.50	6,080	5.07

Cost of material consumed = opening inventory of material + purchases of material – closing inventory of material
Note: Material such as stores, fuel, spare parts etc. which do not enter physically into composition of finished product are excluded from raw materials and hence are shown under other expenses.

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