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| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
(a) A contractor is contemplating to submit his tender papers for a small construction job which involves Rs 20,000 in materials and Rs 30,000 in wages. If his last year’s construction experience is as given below, what price should be quoted to maintain his profitability? Rs Raw Materials - Opening stock 20,000 - Closing stock 30,000 Purchase of Materials 170,000 Wages paid 120,000 Production Expenses 120,000 Non-production Expenses 50,000 Total Contracted Amount 500,000[15 marks](b) Discuss the scope and importance of Management Accounting. How does it differ from Financial Accounting? [10 marks]
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