Question
Find the cost of manufacturing each article if a
manufacturer estimates that on inspection 17% of the articles he produces will be rejected. He accepts an order to supply 50,000 articles at Rs. 11 each. He estimates the profit on his outlay including the manufacturing of rejected articles to be 10%.Solution
If 100 articles are manufactured then 17 will be rejected
Total selling price of 83 articles = 83 × 11 = 913
Total cost price = (913 x 100)/110 = 830
cost of manufacturing per article = 830/100 = Rs 8.30
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