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
vi) Cost of Goods sold
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
vi) Cost of Goods sold
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
