(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

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

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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

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