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what is 94c,94J,and 94I form meant for ?
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Answer Posted / vaibhav bhardwaj
94C:- IS COVERED CONTRACTOR AND SUB-CONTRACTOR FOR INDIVIDUAL TDS WILL DEDUCT 1 % AND FOR IN COMPANY CASE WILL BE DEDUCT 2%
94J: IS COVERED PROFESSIONAL FEES ETC IS 10%
94I:- COVERED RENT AND THE PERCENTAGE IS 2%
(NOTE:- PAN CARD IS NECESSARY OTHERWISE TAX WILL DEDUCT 20%)
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hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units
For the production of 10,000 units the following are the budgeting expenses: Per Unit Rs. Direct materials 60 Direct labour 30 Variable overhead 25 Fixed overhead (Rs.1,50,000) 15 Selling expenses (10% fixed) 15 Variable expenses (direct) 5 Administrative expenses (Rs.50,000 fixed) 5 Distribution expenses (20% fixed) 5 Total cost of sales per unit 160 Prepare the flexible budget for the production of 6,000 , 7,000 ,and 8,000 units of production
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