Charge indirect expenses at 15% on wages
The following are the expenses on a contract which commences on 1st Jan. 2003
Materials purchased    $ 100,000
Materials on hand      $ 5,000
Direct wages           $ 150,000
Plant issued            $ 50, 000
Direct expenses        $ 80, 000
The contract price was $1,500,000 and the same was duly received when the contract was completed in August 2003.
Required: Charge indirect expenses at 15% on wages. Provide kshs. 10000 for depreciation on plant and prepare the contract account .
Answers
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Posted 20 Dec 2017 06:12 AM
My Price 10.00
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