Q.1. The following data relate to ABC Co. for the year 2018. i. Purchases of Direct Material Rs. 88,000 ii. Direct Material Used Rs. 90.000 iii. Direct Labour Paid ..... Rs. 65,000 iv. Direct Labour assigned to production Rs. 70.000 v. Factory Overhead Cost incurred Rs. 80,000 During the year 12,200 units were manufactured and 12,500 units were sold. Selected information concerning inventories during the year is as follows: Jan 01, 2018 ....... Dec 31, 2018 Material Rs. 10,000 ..............? Work in Process... Rs. 18,000 ....... Rs. 14.000 Finished Goods 1500 units Rs. 27.000 .........2 Required: (10 Marks) i. Cost of Goods manufactured during 2018. ii. Average unit cost produced during 2018. iii. Cost of Goods Sold assuming FIFO basis. iv. Cost of ending inventories. o O 1:34 F.ll.lll Bis 822 30 Active Now Q.1. The following data relate to ABC Co. for the year 2018. i. Purchases of Direct Material Rs. 88,000 ii. Direct Material Used Rs. 90,000 iii. Direct Labour Paid Rs. 65,000 iv. Direct Labour assigned to production Rs. 70,000 v. Factory Overhead Cost incurred Rs. 80,000 During the year 12,200 units were manufactured and 12,500 units were sold. Selected information concerning inventories during the year is as follows: Jan 01, 2018 Rs. Dec 31, 2018 Material 10,000 ..............? Work in Process.. 14.000 Finished Goods 1500 units ...? Rs. 18,000 ....... Rs. Rs. 27,000 Required: (10 Marks) i. Cost of Goods manufactured during 2018. ii. Average unit cost produced during 2018. iii. Cost of Goods Sold assuming FIFO basis. iv. Cost of ending inventories. ... More Edit o O