(1) Following information is related to the stock ledger of Moon Ltd.

No of Units Unit Price Total value

Jun 5 - Opening stock 100 Rs. 4000

Jun 12 - Received 300 Rs. 50

Jun 19 - Issued 80

Jun 23 - Received 100 Rs. 60

Jun 28 - Issued 400

Required:

Calculate the closing stock value based on the following methods,

a. First In First Out (FIFO)

b. Weighted Average

(2)The following information is extracted from the book of Sun Ltd

Products A B Cost Driver Unit (Rs.)

Price per unit 250 400 -

Direct material cost per unit 25 40 -

Direct wages per unit 15 25 -

No of purchase orders 200 300 250

No of component used 100,000 120,000 2

No of units 5,000 6,000 4

No of sales orders 300 200 200

Sales (Rs.) 1,250,000 2,400,000 0.1

No of service calls 200 100 5

Required:

Prepare the income statement for product A and B by using the ABC method.