Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following is the data extracted from the records of an industrial company during the month of January 2 0 2 1 : 1 7
The following is the data extracted from the records of an industrial company during the month of January :
riyals raw materials purchases
Direct wage costs riyals.
riyals shipping costs for purchased raw materials.
Indirect industrial costs amount to riyals.
Marketing costs and administrative costs are riyals and riyals, respectively.
riyals returns on raw materials purchases.
Inprocess production inventory costs at the beginning and end of the month are and riyals, respectively.
Completed production inventory costs at the beginning of the month are riyals.
The number of complete production units during the month is units.
The cost of raw materials inventory at the beginning and end of the month is and riyals, respectively.
The number of finished production inventory units at the beginning and end of the month is and units, respectively.
Unit selling price is riyals.
Required:
Preparation during January
a List of costs of raw materials used in production
B List of costs for finished production.
C List of costs for production sold.
D income list.
Calculate the initial cost and conversion cost
Step by Step Solution
There are 3 Steps involved in it
Step: 1
1 Preparation during January 2021 a List of Costs of Raw Materials Used in Production Raw Materials ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
664237003e401_984366.pdf
180 KBs PDF File
664237003e401_984366.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started