Question
ThefollowingdatarelatetoABCCo.fortheyear2018. i.PurchasesofDirectMaterialRs.88,000 ii.DirectMaterialUsed..Rs.90,000 iii.DirectLabourPaidRs.65,000 iv.DirectLabourassignedtoproduction..Rs.70,000 v.FactoryOverheadCostincurredRs.80,000 Duringtheyear12,200unitsweremanufacturedand12,500unitsweresold.Selected informationconcerninginventoriesduringtheyearisasfollows: .Jan01,2018.Dec31,2018 Material.....Rs.10,000..? WorkinProcess.Rs.18,000.Rs.14,000 FinishedGoods1500units...Rs.27,000..? Required:(10Marks) i.CostofGoodsmanufacturedduring2018. ii.Averageunitcostproducedduring2018. iii.CostofGoodsSoldassumingFIFObasis. iv.Costofendinginventories.
ThefollowingdatarelatetoABCCo.fortheyear2018. i.PurchasesofDirectMaterialRs.88,000 ii.DirectMaterialUsed..Rs.90,000 iii.DirectLabourPaidRs.65,000 iv.DirectLabourassignedtoproduction..Rs.70,000 v.FactoryOverheadCostincurredRs.80,000 Duringtheyear12,200unitsweremanufacturedand12,500unitsweresold.Selected informationconcerninginventoriesduringtheyearisasfollows: .Jan01,2018.Dec31,2018 Material.....Rs.10,000..? WorkinProcess.Rs.18,000.Rs.14,000 FinishedGoods1500units...Rs.27,000..? Required:(10Marks) i.CostofGoodsmanufacturedduring2018. ii.Averageunitcostproducedduring2018. iii.CostofGoodsSoldassumingFIFObasis. iv.Costofendinginventories.
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