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Thread: Solution

  1. #1
    Jawad
    Guest

    18 Solution

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    (Working-1)

    Net Sale = 218800-2800 = 216000

    Net Sale = Cost of Gods Sold+ Gross Profit

    216000= Cost of Goods Sold+30% of Sale

    216000= Cost of Goods Sold+30% of 216000

    216000= Cost of Goods Sold+64800

    216000-64800 = Cost of Goods Sold

    151200 = Cost of Goods Sold



    (Working-2) Reverse Calculation:-

    Conversion Cost = Direct Labour + Factory Over Head

    Conversion Cost =70%+30%

    Conversion Cost =70%35000+30% of Conversion Cost

    Total Conversion Cost = 35000*100/70

    Total Conversion Cost 35000*100/70

    Total Conversion Cost = 50000

    Factory Overhead = 30%of 50000

    Factory Overhead = 50000*30/100

    Factory Overhead = 15000



    Working.3:

    Ending Finished Goods Inventory=?

    Ending Finished Goods Inventory=

    Cost of goods available for sale-Cost of Goods Sold

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    Ending Finished Goods Inventory= Rs.200,000-Rs.151,200

    Ending Finished Goods Inventory=Rs.48800



    Working.4:

    Cost of Goods Manufactured=?

    Cost of Goods Manufactured= Cost of goods available for sale-Opening Finished Goods Inventory

    Cost of Goods Manufactured= Rs.200,000-Rs.50,000

    Cost of Goods Manufactured= Rs.150,000



    Working.5:

    Prime Cost=?

    In the given statement of Question there is Prime cost (60% of Cost of Goods Manufactured)

    SO,

    Prime Cost= Rs.150,000*60%

    Prime Cost= Rs. 90,000



    Working.6:

    Total Current Factory Cost=?

    Total Current Factory Cost=

    Prime Cost +Factory Over Head Cost

    Total Current Factory Cost= Rs.90,000+Rs.15,000

    Total Current Factory Cost= Rs.105,000



    Working.7:

    Cost Of Goods to be Manufactured=?

    Cost Of Goods to be Manufactured=

    Total Current Factory Cost+ Opening Work in Process Inventory

    Cost Of Goods to be Manufactured= Rs.105,000+Rs.70,000

    Cost Of Goods to be Manufactured= Rs.175,000



    Working.8:

    Ending Work in Process Inventory=?

    Ending Work in Process Inventory=

    Cost Of Goods to be Manufactured-Cost Of Goods Manufactured

    Ending Work in Process Inventory=Rs.175000-Rs.150,000

    Ending Work in Process Inventory= Rs. 25,000



    Working.9:

    Direct Material used=?

    Direct Material used= Prime Cost - Direct Labor

    Direct Material used= Rs.90,000 Rs.35,000

    Direct Material used= Rs.55,000



    Working.10:

    Material Closing Inventory=?

    Material Closing Inventory=

    Material available for use Total material used

    Material Closing Inventory= Rs.98,000 Rs55,00

    Material Closing Inventory= Rs.43,000

    Notelz ais mian changing kar lijya ga

  2. #2
    Senior Member Awais's Avatar
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    May 2010
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    thankx dear... Nice Upload

  3. #3
    Senior Member viki's Avatar
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    yeh solution kis ka hai

  4. #4
    Jawad
    Guest
    sorry i havent uploaded the name of the assignment
    this is the solution of MGT 402 Cost & Management Accounting

  5. #5
    Junior Member
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    May 2010
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    plz upload the gdb of economics

  6. #6
    Senior Member viki's Avatar
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    kindly mention the code

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