Costing

22. If 50% of the contract is completed, then the following amount of profit is normally credited

$${ ext{Earned profit}} imes rac{{50}}{{100}}$$
$${ ext{Earned profit}} imes rac{3}{2} imes rac{{{ ext{Cash received}}}}{{{ ext{Contract value}}}}$$
$${ ext{Earned profit}} imes rac{2}{3} imes rac{{{ ext{Cash received}}}}{{{ ext{Contract value}}}}$$
$${ ext{Earned profit}} imes rac{2}{3} imes rac{{{ ext{Cash received}}}}{{{ ext{Certified value}}}}$$

Detailed SolutionIf 50% of the contract is completed, then the following amount of profit is normally credited

25. Match the following. List-I List-II a. Excess of actual sales over the break-even sales volume 1. Contribution b. Sum of fixed cost and profit 2. Cost volume profit analysis c. Break-even chart 3. Unaffected by change in output d. Break-even point 4. Margin of safety

a-4, b-1, c-2, d-3
a-4, b-3, c-2, d-1
a-4, b-3, c-1, d-2
a-3, b-1, c-4, d-2

Detailed SolutionMatch the following. List-I List-II a. Excess of actual sales over the break-even sales volume 1. Contribution b. Sum of fixed cost and profit 2. Cost volume profit analysis c. Break-even chart 3. Unaffected by change in output d. Break-even point 4. Margin of safety

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