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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started