beginnlag inventories for the perlod arc: Raw Materlal Rs.10,000, Work in Process Ts.20,000 &Finishel Goads is.i0,0 1. Mnterials purchasad on aAccount Rs.40,000 2...Materials returned to suppliers Rs.2,000 1. Raw material Inveutory ending Rs.15,000 Labor used Rs.20,000 of which Rs.15,000 was used directly 5. Depreciatiun on machinery s.2,000 6. Factory overliend cost incurred Rs.15,000 7. The factory overlhend rate is applied 110% Df direct labor cort R. Work in process inventory ending Rs14,500 9. Finished gnods inventory ending Rs.20,000 10. The Jobs Verc completed and shipped to customers at a billed price of Rs.80,000 11. Balance of factory overhead account was closed into̟the Cost of goods sold 4.
beginnlag inventories for the perlod arc: Raw Materlal Rs.10,000, Work in Process Ts.20,000 &Finishel Goads is.i0,0 1. Mnterials purchasad on aAccount Rs.40,000 2...Materials returned to suppliers Rs.2,000 1. Raw material Inveutory ending Rs.15,000 Labor used Rs.20,000 of which Rs.15,000 was used directly 5. Depreciatiun on machinery s.2,000 6. Factory overliend cost incurred Rs.15,000 7. The factory overlhend rate is applied 110% Df direct labor cort R. Work in process inventory ending Rs14,500 9. Finished gnods inventory ending Rs.20,000 10. The Jobs Verc completed and shipped to customers at a billed price of Rs.80,000 11. Balance of factory overhead account was closed into̟the Cost of goods sold 4.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Q.No.4
1beginnlag inventories for the perlod arc: Raw Materlal Rs.10,000, Work in Process Ts.20,000 & Finishel Goads 1s.10,
1. Muterials purchasad on account Rs.40,000
2...Materials returned to suppliers Rs.2,000
1. Ray material Inveutory ending Rs.15,000
4.
Labor used Rs.20,000 of which Rs.15,000 was used directly
5. Depreciatlun on machinery Rs.2,000
6. Factory overliead cost incurred Rs.15,000
7. The factory overlhead rate is applied 110% of direct labor cort
R. Worlk in process inventory ending Rs24,500
Finished goods inventory ending Rs.20,000
10. The Jobs were completed and suipped to customers at a billed price of Rs.80,000
11. Balance of factory overhead account was closed fnto̟the Cost of goods sold
9.
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