Raw material (1-1-03) Rs. 12,500 Work-in-Process(1-1-03) 6,300 Finished Goods (1-1-03) 12,500 Sales 678,600 Sales return 15,000 Purchases of raw material 245,000 Administrative expense 70,000 Marketing expense 55,000 Indirect material 8,000 Indirect labor 4,500   Raw material (31-12-03) Rs. 32,000 Work-in-Process(31-12-03) 16,500 Finished Goods(31-12-03) 25,000 Direct labor 125,000 Other factory overhead 17,600 Repair and maintenance 10,000 Insurance-factory 12,000 Depreciation-factory 22,000   Required: Statement of cost of goods manufactured Statement of cost of goods sold Income Statement

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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Raw material (1-1-03) Rs. 12,500

Work-in-Process(1-1-03) 6,300

Finished Goods (1-1-03) 12,500

Sales 678,600

Sales return 15,000

Purchases of raw material 245,000

Administrative expense 70,000

Marketing expense 55,000

Indirect material 8,000

Indirect labor 4,500

 

Raw material (31-12-03) Rs. 32,000

Work-in-Process(31-12-03) 16,500

Finished Goods(31-12-03) 25,000

Direct labor 125,000

Other factory overhead 17,600

Repair and maintenance 10,000

Insurance-factory 12,000

Depreciation-factory 22,000

 

Required:

Statement of cost of goods manufactured

Statement of cost of goods sold

Income Statement

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