Wednesday, December 21, 2011
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Join Date: Oct 2011
Location: Chakwal
Posts: 49
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Quote:
Originally Posted by xaara~hussain
The following data relate to the Shirley Company:
----------------------------------------Inventories
-----------------------------------ENDING
BEGINNING
Finished goods
95,000
.. 10,000
Work in process
.
. 80,000
.. 70,000
Direct material
.
95,000
... 90,000
Costs incurred during the period:
Costs of goods available for sale
.
X
........684,000
Total manufacturing costs
.
..X
.....
..584,000
Factory overhead
.
..X
.....
..167,000
Direct materials used
.
..X
.......193,000
Required: Statement of cost of goods sold, including all beginning and ending inventories.
While making Cost of goods sold Statement, I am able to do everything perfectly but when it comes to 'Cost of goods available for sale', my calculated value is 564,000, and mentioned in problem is 684,000. There is a variance of 120,000. Is this amount to be adjusted somewhere in the statement? like under or ovr applied FOH or some other element? Where do I adjust this 120,000?
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ap pora data do is main purchases.d labour wagera nhn hai
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