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M/s.ABCandCo.presentedthefolowingdataon1 January208:- MaterialA 150units@ 5Rs.Perunit,MaterialB 10units@ 6.5Rs.Perunit WIP 350Rs.,FG 70Rs. Duringtheperiodcompanypurchased70unitsofMaterialAand40unitsofmaterialB.Theprices were5% morethenthelastyearpricesforbothofthematerials.Materialproduces2unitsoffinishedgod andeachunitoffinishedgodrequires2hoursoflaborand1.5hoursofmachine.Laborispaid@ 3Rs.Per hourandFOHisaplied@ 2.5Rs.Permachinehour.Attheendoftheperiod20unitsofMaterialAwere inhand.50unitsofMaterialBwerealsoinhand.Itisthecompaniesstrategytomaintaintheopeningand closinginventoriesofWIPandFGsame.Inthelastyearthecompanyconstructeditspricebytaking40% marginwhichthecompanyisplaningtoincrease5% morebythistime.Marketingandadministrative expensesare5% ofmargin. Required:-Constructanincomestatementfortheperiod

M/s.ABCandCo.presentedthefolowingdataon1 January208:-

MaterialA 150units@ 5Rs.Perunit,MaterialB 10units@ 6.5Rs.Perunit

WIP 350Rs.,FG 70Rs. Duringtheperiodcompanypurchased70unitsofMaterialAand40unitsofmaterialB.Theprices were5% morethenthelastyearpricesforbothofthematerials.Materialproduces2unitsoffinishedgod andeachunitoffinishedgodrequires2hoursoflaborand1.5hoursofmachine.Laborispaid@ 3Rs.Per hourandFOHisaplied@ 2.5Rs.Permachinehour.Attheendoftheperiod20unitsofMaterialAwere inhand.50unitsofMaterialBwerealsoinhand.Itisthecompaniesstrategytomaintaintheopeningand closinginventoriesofWIPandFGsame.Inthelastyearthecompanyconstructeditspricebytaking40% marginwhichthecompanyisplaningtoincrease5% morebythistime.Marketingandadministrative expensesare5% ofmargin.

Required:-Constructanincomestatementfortheperiod

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