Calculate :a) Cost of raw materials consumed.b) Total cost of production.c) Cost of goods sold.d) The amount of profit, from the following particulars.Opening Stock of Raw MaterialsOpening Stock of Finished GoodsClosing Stock of Raw MaterialsClosing Stock of Finished GoodsRaw Material purchasedWages Paid to LabourersChargeable ExpensesRent, rates and taxesPowerFactory Heating and LightingFactory InsuranceExperimental expensesSale of Wastage of materialOffice Management SalariesOffice Printing and StationerySalaries of SalesmanCommission of Traveling agentsSales5,0004,0004,0005,00050,00020,0002,0005,0002.4002,0001,0005002004,0002002.0001.0001.00.000

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Answered: Calculate : a) Cost of raw materials…

Business

Accounting

Calculate : a) Cost of raw materials consumed. b) Total cost of production. c) Cost of goods sold.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 3DQ: Which of the following costs would be included in the cost of a manufactured product according to...

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Question

Calculate :
a) Cost of raw materials consumed.
b) Total cost of production.
c) Cost of goods sold.
d) The amount of profit, from the following particulars.
Opening Stock of Raw Materials
Opening Stock of Finished Goods
Closing Stock of Raw Materials
Closing Stock of Finished Goods
Raw Material purchased
Wages Paid to Labourers
Chargeable Expenses
Rent, rates and taxes
Power
Factory Heating and Lighting
Factory Insurance
Experimental expenses
Sale of Wastage of material
Office Management Salaries
Office Printing and Stationery
Salaries of Salesman
Commission of Traveling agents
Sales
5,000
4,000
4,000
5,000
50,000
20,000
2,000
5,000
2.400
2,000
1,000
500
200
4,000
200
2.000
1.000
1.00.000

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