Quote:
Originally Posted by zahra raza
cost of goods sold. = 750,000
Income statement for the year ended December 31, 2007. RS 520,000
Units manufactured. = 1035units
per unit cost of goods manufactured = RS 772.94
gross profit per unit = Rs750
direct labour= Rs60,000
cost of goods mft = 800,000
unable to calculate WIP opening and ending Inventory now tell me your answer
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answer with format of paper 2 cost section Q#2
raw material opening = 50000
Add) purchases = 300000
stock available for use = 350000
less) ending material = 20000
STOCK CONSUMED = [ 330,000]
add) direct labor = 60,000
PRIME COST = [ 390,000 ]
add) FOH = 140,000
MANUFACTURING COST [ 530,000 ]
add) opening WIP = 270,000
COST OF GOODS TO BE MANUFACTURED = [ 800,000 ]
less) closing wip = 189,000
COST OF GOODS MANUFACTURES = [ 611,000 ]
add) finished goods opening = 30,000
COST OF GOODS AVAILABLE FOR USE = [ 641,000 ]
less) finished goods closing = 80,000
COST OF GOODS SOLD =[ 561,000 ]
I/S for the year
sales = 1500,000
CGS = (561,000)
Gross profit = 939,000
admin expense = ( 210,000 )
marketing expense = ( 20,000 )
Net profit = 709,000
units manufactures = 1035 units
thats it
