Question
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
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
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