Here is the following data extracted from the records of a company during the year 2019, as follows: - Direct raw materials purchased during the period (350,000) dinars. - Direct raw materials for the first period (125,000) dinars. - Direct raw materials at the end of the period (150,000) dinars. - Direct wages amounted to (225,000) dinars during the period. Industrial indirect costs were estimated as follows: 25% of the total costs of direct raw materials used in production during the period. 10% of the total direct wage costs spent on production during the period. - The balance of production under operation in the first period amounted to (35,000) dinars. - The balance of production under operation at the end of the period reached (50,000) dinars. The balance of finished production at the beginning of the period was (100,000) dinars. - The balance of finished production at the end of the period reached (75,000) dinars. Required: Find the following: 1. The total initial costs of production incurred during the period. 2. The total conversion costs of production incurred during the period. 3. The total industrial costs expended on production during the period. 4. The total costs of manufactured products during the period. 5. The total costs of products sold during the period.
Here is the following data extracted from the records of a company during the year 2019, as follows:
- Direct raw materials purchased during the period (350,000) dinars.
- Direct raw materials for the first period (125,000) dinars.
- Direct raw materials at the end of the period (150,000) dinars.
- Direct wages amounted to (225,000) dinars during the period.
Industrial indirect costs were estimated as follows:
25% of the total costs of direct raw materials used in production during the period.
10% of the total direct wage costs spent on production during the period.
- The balance of production under operation in the first period amounted to (35,000) dinars.
- The balance of production under operation at the end of the period reached (50,000) dinars.
The balance of finished production at the beginning of the period was (100,000) dinars.
- The balance of finished production at the end of the period reached (75,000) dinars.
Required:
Find the following:
1. The total initial costs of production incurred during the period.
2. The total conversion costs of production incurred during the period.
3. The total industrial costs expended on production during the period.
4. The total costs of manufactured products during the period.
5. The total costs of products sold during the period.
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