ubject: Business Economics QUESTION – 3 The following data have been taken from the book of Ubaida Company Ltd. For the year 2002-03. Inventories July 1 June 30 Raw Materials Rs. 36,000 Rs. 75,000 Goods In Process 90,000 75,000 Finished Goods 50,000 75,000 Data for the Year Sales Rs. 960,000 Purchases ( Raw Materials ) Rs. 410,000 Purchase discount 15,000 Direct Labour incurred 175,000 Purchase Return 20,000 Transportation Inward 10,000 Rent (Factory) 35,000 Fuel & Power 55,000 Rent (Office) 3,000 Utility (Factory) 13,000 Utility (Office) 1,500 Transportation Outward 15,000 Factory Supervisor Salary 8,000 Depreciation ( Furniture) 10,000 Depreciation( Machines) 20,000 Other Operating Expenses 45,000 REQUIRED: a) Statement of Cost of Goods Manufactured b) Income Statement
Subject: Business Economics
QUESTION – 3
The following data have been taken from the book of Ubaida Company Ltd. For the year 2002-03.
Inventories July 1 June 30
Raw Materials Rs. 36,000 Rs. 75,000
Goods In Process 90,000 75,000
Finished Goods 50,000 75,000
Data for the Year
Sales Rs. 960,000 Purchases ( Raw Materials ) Rs. 410,000
Purchase discount 15,000 Direct Labour incurred 175,000
Purchase Return 20,000 Transportation Inward 10,000
Rent (Factory) 35,000 Fuel & Power 55,000
Rent (Office) 3,000 Utility (Factory) 13,000
Utility (Office) 1,500 Transportation Outward 15,000
Factory Supervisor Salary 8,000
Depreciation( Machines) 20,000 Other Operating Expenses 45,000
REQUIRED:
a) Statement of Cost of Goods Manufactured b) Income Statement
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