Raw material (1-1-03) Rs 12,500 Work-in-Process (1-1-03) 6,300 Finished Goods (1-1-03) 12,500 Sales 678,600 Sales return 15,000 Purchases of raw material 245,000 Administrative expense 70,000 Marketing expense 55,000 Indirect material 8,000 Indirect labor 4,500 Raw material (31-12-03) Rs 32,000 Work-in-Process (31-12-03) 16,500 Finished Goods (31-12-03) 25,000 Direct labor 125,000 Other factory overhead 17,600 Repair and maintenance 10,000 Insurance-factory 12,000 Depreciation-factory 22,000 Required: Statement of cost of goods manufactured; Statement of cost of goods sold; and Income Statement?
Q.3.
Raw material (1-1-03) Rs 12,500 Work-in-Process (1-1-03) 6,300 Finished Goods (1-1-03) 12,500 Sales 678,600 Sales return 15,000 Purchases of raw material 245,000 Administrative expense 70,000 Marketing expense 55,000 Indirect material 8,000 Indirect labor 4,500 |
Raw material (31-12-03) Rs 32,000 Work-in-Process (31-12-03) 16,500 Finished Goods (31-12-03) 25,000 Direct labor 125,000 Other factory Repair and maintenance 10,000 Insurance-factory 12,000 Depreciation-factory 22,000 |
Required:
- Statement of cost of goods manufactured;
- Statement of cost of goods sold; and
- Income Statement?
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