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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
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