Subject: Cost management & accounting QUESTION – 6** Following information relates to commodity ‘ A ‘ of a manufacturing concern for their one month operations: Stock of Materials- Ending Rs. 31,400 Stock of Materials- Beg. Rs. 24,000 Material purchases 92,500 Carriage and Cartage Outward 2,150 Carriage and Cartage Inward 3,575 Drawing office Salaries 3,250 Counting House Salaries 6,300 Cash Discount Allowed 1,450 Bad Debts written off 3,250 Repair of Plant 2,225 Rent, Rates & Maintenance-Factory 4,250 Sales 230,500 Rent, Rates, & Maintenance-Office 1,000 Travelling Expenses 1,050 Traveller Salaries & Commission 3,850 Production Wages 63,000 Depreciation- Machinery 3,250 Depreciation- Office Furniture 150 Director’s Fee 3,000 Energy and Gas – Factory 600 Managers Salary (¾ Factory- ¼ Office) 5,000 Energy and Gas – Office 200 General Expenses – Factory 1,700 Process Inventory – Ending 16,200 Process Inventory – Beginning 20,500 Finished Goods - Beginning 10,600 Finished Goods Inventroy- ending 5,400 REQUIRED: A] Cost of Goods Manufactured Statement B] Income Statement
Subject: Cost management & accounting
QUESTION – 6**
Following information relates to commodity ‘ A ‘ of a manufacturing concern for their one month operations:
Stock of Materials- Ending Rs. 31,400 Stock of Materials- Beg. Rs. 24,000
Material purchases 92,500 Carriage and Cartage Outward 2,150
Carriage and Cartage Inward 3,575 Drawing office Salaries 3,250
Counting House Salaries 6,300 Cash Discount Allowed 1,450
Rent, Rates & Maintenance-Factory 4,250 Sales 230,500
Rent, Rates, & Maintenance-Office 1,000 Travelling Expenses 1,050
Traveller Salaries & Commission 3,850 Production Wages 63,000
Director’s Fee 3,000 Energy and Gas – Factory 600
Managers Salary (¾ Factory- ¼ Office) 5,000 Energy and Gas – Office 200
General Expenses – Factory 1,700 Process Inventory – Ending 16,200
Process Inventory – Beginning 20,500 Finished Goods - Beginning 10,600
Finished Goods Inventroy- ending 5,400
REQUIRED:
A] Cost of Goods Manufactured Statement
B] Income Statement
Step by step
Solved in 2 steps with 2 images
