Prepare a cost sheet using following information, calculating gross Profit: (10 Marks) Opening Stock Closing Stock Raw Material $8,000 $12000 Work in Process $12,000 $16,000
- Prepare a cost sheet using following information, calculating gross Profit: (10 Marks)
|
| Opening Stock | Closing Stock |
| Raw Material | $8,000 | $12000 |
| Work in Process | $12,000 | $16,000 |
| Finished Goods | $22,000 | $17,000 |
| Purchases | $171,000 |
| Carriage In | $3,200 |
| Direct Labor | $17,500 |
| Factory Overheads | $77,000 |
| Administration Overheads | $43,000 |
| Selling and Distribution O/H | $22,800 |
| Sales | $475,000 |
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Authors: Germain Boer, Debra Jeter
5th Edition
0759341559, 978-0759341555
