Question
Q3 The following information has been obtained from the records of XYZ Corporation for the period from June 1 to June 30, 2018. On
Q3 The following information has been obtained from the records of XYZ Corporation for the period from June 1 to June 30, 2018. On June 1, On June 30, 2018 (Rs) 2018 (Rs.) Cost of raw materials 60,000 50,000 Cost of work-in-process 12,000 15,000 Cost of stock of finished goods 90,000 1,10,000 Purchase of raw materials during June' 20X8 4,80,000 Wages paid 2,40,000 Factory overheads 1,00,000 Administration overheads (related to 50,000 production) Selling & distribution overheads Sales 25,000 10,00,000 Prepare a statement giving the following information: Raw materials consumed; (a) (b) Prime cost; (c) Factory cost; (d) Cost of goods sold; and (e) Net profit.
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