Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The data below is extracted from the records of an industrial company for the cost period ending in August 2020 First: Cost Data: 1- Direct

The data below is extracted from the records of an industrial company for the cost period ending in August 2020

First: Cost Data:

1- Direct production materials 50,000 riyals

2- Direct production wages 28,000 riyals

3- Direct production services 10,000 riyals

4- Indirect production costs 30,000 riyals (60% of which are fixed)

5- Direct marketing costs 22,000 riyals

6- Indirect marketing costs 40,000 riyals (20% of which are variable)

7- Administrative and financing costs 50,000 riyals

Second, other data:

1- The production and marketing capacity is 10,000 units per month

2- The number of units produced during the month is 8000 units

3- There is no stock under operation at the beginning and end of the period, and there is no complete stock at the beginning of the period

4- The number of units sold per month is 6,000 units, at a unit price of 50 riyals

Required :

Preparing cost and business result lists according to different costing methods?

They are in the variable style, the total style, and the exploited style

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing And Assurance Services

Authors: Philomena Leung, Paul Coram, Barry J. Cooper, Peter Richardson

6th Edition

1118615247, 9781118615249

More Books

Students also viewed these Accounting questions