thankx dear... Nice Upload
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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
Ending Finished Goods Inventory=?
Ending Finished Goods Inventory=
Cost of goods available for sale-Cost of Goods Sold
Ending Finished Goods Inventory= Rs.200,000-Rs.151,200
Ending Finished Goods Inventory=Rs.48800
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
In the given statement of Question there is Prime cost (60% of Cost of Goods Manufactured)
Prime Cost= Rs.150,000*60%
Prime Cost= Rs. 90,000
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
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
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
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
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
sorry i havent uploaded the name of the assignment
this is the solution of MGT 402 Cost & Management Accounting
plz upload the gdb of economics
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