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Please solve in Steps-By-Steps on a piece of paper with instructions. Starting From Cost of Manufactured, Then Cost of Goods Sold & Income Statement. QUESTION-5

image text in transcribed Please solve in Steps-By-Steps on a piece of paper with instructions. Starting From Cost of Manufactured, Then Cost of Goods Sold & Income Statement.

QUESTION-5 From the following data, Prepare Cost of Good Sold Statement Material consumed = Rs. 150,000 [ 20 % Indirect] Labour incurred 200,000 [ 75 % Direct] Rent 35,000 [ 20 % Office ] Fuel & Power 45,000 [ 100% Factory] Utilities Expense 10,000 [ 35 % Factory] Supervisor Salaries 30,000 [ 60% Factory] Depreciation 45,000 [ 10% Furniture, 15% Office Building, 25% Factory Building & Remaining for Factory Machines) Inventories Opening Closing Raw material Rs. 45,000 80% of Opening W-I-Process 75% of Closing 80,000 Finished Goods 90,000 20% of Cost of Goods Manufactured (S.M]

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