Question
The following information has been taken from the job order cost system, used by SALEEM CORPORATION: Job No. Balance March 1 Production Cost in March
The following information has been taken from the job order cost system, used by SALEEM CORPORATION:
Job No. | Balance March 1 | Production Cost in March |
15 | Rs. 150,000 | --- |
16 | 170,000 | --- |
17 | 50,000 | Rs. 130,000 |
18 | 70,000 | 150,000 |
19 | ---- | 240,000 |
20 | ---- | 150,000 |
21 | ---- | 90,000 |
During March Job No. 17, 18 & 19 were completed, and job No. 15, 16 and 17 were sold on account at 40% above cost.
REQUIRED:
i) Cost of finished goods inventory beginning
ii) Cost of goods in process inventory beginning
iii) Cost of finished goods inventory ending
iv) Cost of goods in process inventory ending
v) Cost of goods manufactured
vi) Cost of Goods sold
vii) Sales
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