Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Al-Falah Ltd. is a manufacturing concern which produces and sells a product ALPIIA. Purchasc of raw material is made in pre-determined quantities of 1000

Al-Falah Ltd. is a manufacturing concern which produces and sells a product ALPIIA. Purchasc of raw material is made in pre-determined quantities of 1000 tons at the start of each week. Information relating to purchases of raw material is as follows: Quarter 3 Quarter 4 120 15 15% Quarter 1 Quarter 2 100 Purchase price (Per ton) Customs duty (Per ton) General sales Tax (% of Purchase price) Freight inward (Per ton) 140 150 15 15% 15 15 15% 15% 20 30 25 35 Production during the year was 50,000 tones and there was a normal capacity to produce 60.000 toncs. Details of other costs incurred are as follows: Rs. Labour costs Packing Material (Production Cost) Production Supervisor's salary Godown rent 1,000,000 800,000 100,000 260.000 Power charges Other fixed overheads 580.000 Salary of sales workforce * Delivery cost 300,000 400,000 40 / ton Each unit of finished goods of the product is sold at Rs. 300. There was no opening stock and at the year-end there were's,000 units of raw material and 2000 units of finished goods in inventory. Required: Find out the value of finished goods inventory on weighted average basis

Step by Step Solution

3.39 Rating (161 Votes )

There are 3 Steps involved in it

Step: 1

Ques Sol Raw Material Calculation putchae picaf Quartes1 Qth 2 120 14... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Seeing Through Statistics

Authors: Jessica M.Utts

4th Edition

1285050886, 978-1305176249, 1305176243, 978-1305322394, 978-1285050881

More Books

Students also viewed these Finance questions

Question

What are the treatments for Multiple Sclerosis?

Answered: 1 week ago

Question

Draw a schematic diagram of I.C. engines and name the parts.

Answered: 1 week ago