Question
L(b) * A * B * C Ltd. incurred the following cost during the year. Direct material 60,000, Direct Labour 75,000, Manufacturing Overhead 20,000 and
L(b) * A * B * C Ltd. incurred the following cost during the year. Direct material 60,000, Direct Labour 75,000, Manufacturing Overhead 20,000 and Selling & Administration Overhead *24,000. During the year 2000 units are manufactured and 1500 units are sold.
You are required to:
(i) Find out the conversion cost, product cost and period cost. Also find out the value of cost ofgoods sold and closing finished stock. (i) Draw a cost flow chart for the above costs of ABC Ltd.
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
