ANSWER ALL QUESTION

Question 1: Using High- Low Method separate the under listed mixed costs into fixed and variable cost,

Months	Litres of Water	Cost GHC
April	450,000	2,350
May	340,000	2,020
June	850,000	3,550
July	500,000	2,500

Question 2: Calculate the schedule for direct raw material consumed from the following cost data of Katrina Company Limited

Beginning raw material Jan 1 125,000

Ending raw materials Dec 31 160,000

Raw material purchase during the year 620,000

Question 3: Calculate the schedule for Work in progress from the following cost data of Katrina Company Limited

Beginning work in progress at January 1 425,000

Direct material utilized 595,000

Direct labour 405,000

Factory Overhead 200,000

Ending work in progress December, 31 625,000

Question 4: Calculate the schedule for cost of goods manufactured by Katrina Company Limited

Beginning raw material inventory January 125,000

Beginning work in progress inventory 425,000

Raw material purchases 620,000

Ending work in progress inventory Dec 31 625,000

Ending raw material inventory Dec 31 160,000

Direct labour 405,000

Material Overhead 200,000

Question 5: Calculate the schedule for cost of goods sold for Katrina Company Limited from the following cost data

Beginning finished goods inventory January 1 250,000

Cost of goods manufactured 1,000,000

Ending finished goods inventory Dec 31 190,000

Question 6: Prepare Income statement for Katrina Company Limited from the following information at 31 December, 2020 to determine profit or loss

Sales 1,980,000

Cost of goods sold during the year 1,060,000

Selling expenses 330,000

General administrative expenses 270,000