Question
(c) Green Company, a manufacturing company, had a cost of goods manufactured of RM408,000 for the month June. The company purchased raw materials costing RM292,000.
(c) Green Company, a manufacturing company, had a cost of goods manufactured of RM408,000 for the month June. The company purchased raw materials costing RM292,000. The beginning balance in the raw materials account was RM104,000 and the ending balance was RM156,000. The beginning balance in the finished goods account was RM168,000 and the ending balance was RM184,000. Required: (i) calculate the cost of raw materials used in production during June. (2 marks) (ii) calculate cost of goods sold for June. (2 marks) (ii) calculate the operating profit or loss for June if the company sold 51,000 units of products at a price of $12 per unit. (1 mark) TOTAL 15 MARK
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