The following balances have been taken from the general ledger for Royal Fan Manufacturing Company: Raw Materials Inventory (1-12-2014) Rs. 40,000 Raw Material Purchases 190,000 Raw Materials Returns 9,000 Carriage Inwards 15,000 Direct Labor 255,000 Indirect Labor 60,000 Depreciation (Machinery) 30,000 Hear, Light and Power 25,000 Factory Rent and Taxes 31,000 Factory Repairs Expense 19,000 Foreman ‘s Salary 25,000 Raw Material (31-12-2014) 58,000 Work in Process (1-12-2014 63,000 The foreman estimates that Rs. 32,000 of Raw Materials and Rs. 25,000 of Direct Labor are to be allocated to the unfinished goods in process on 31-12-2014. Calculate amount of Cost of Goods Manufactured.
The following balances have been taken from the general ledger for Royal Fan Manufacturing Company: Raw Materials Inventory (1-12-2014) Rs. 40,000 Raw Material Purchases 190,000 Raw Materials Returns 9,000 Carriage Inwards 15,000 Direct Labor 255,000 Indirect Labor 60,000 Depreciation (Machinery) 30,000 Hear, Light and Power 25,000 Factory Rent and Taxes 31,000 Factory Repairs Expense 19,000 Foreman ‘s Salary 25,000 Raw Material (31-12-2014) 58,000 Work in Process (1-12-2014 63,000 The foreman estimates that Rs. 32,000 of Raw Materials and Rs. 25,000 of Direct Labor are to be allocated to the unfinished goods in process on 31-12-2014. Calculate amount of Cost of Goods Manufactured.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following balances have been taken from the general ledger for Royal Fan Manufacturing Company:
Raw Materials Inventory (1-12-2014)
Rs. 40,000
Raw Material Purchases
190,000
Raw Materials Returns
9,000
Carriage Inwards
15,000
Direct Labor
255,000
Indirect Labor
60,000
Depreciation (Machinery)
30,000
Hear, Light and Power
25,000
Factory Rent and Taxes
31,000
Factory Repairs Expense
19,000
Foreman ‘s Salary
25,000
Raw Material (31-12-2014)
58,000
Work in Process (1-12-2014
63,000
The foreman estimates that Rs. 32,000 of Raw Materials and Rs. 25,000 of Direct Labor are to be allocated to the unfinished goods in process on 31-12-2014.
Calculate amount of Cost of Goods Manufactured.
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