Subject: Cost management & accounting QUESTION – 9** Following transactions were recorded in the books of Wahid Electronics Est., for the month of April 1989. Beginning Inventories: Rs. Ending Inventories: Rs Materials 19,000 Materials 8,900 Work – In – Process 7,500 Work – In – Process 15,700 Finished Goods 26,000 Finished Goods 21,750 Transactions for the months were: Material Purchased 275,000 Consumable & supplies (Indir. Mat.) 54,000 Utilites 60,000 Wages 90,000 (Factory 60%, Office 40%) (Factory 70%, Office 30%) Salaries – Office Staff 30,000 Salaries – Sales Staff 10,000 Travelling Expenses – Sales 25,500 Factory Overheads 16,000 Depreciation 15,500 Distribution Expenses 3,850 Sales 550,000 REQUIRED: A] Cost of Goods manufactured and Sold statement for the year ended Dec. 31, 1990. B] Income Statement for the year ended Dec. 31, 1990.
Subject: Cost management & accounting
QUESTION – 9**
Following transactions were recorded in the books of Wahid Electronics Est., for the month of April 1989.
Beginning Inventories: Rs. Ending Inventories: Rs
Materials 19,000 Materials 8,900
Work – In – Process 7,500 Work – In – Process 15,700
Finished Goods 26,000 Finished Goods 21,750
Transactions for the months were:
Material Purchased 275,000 Consumable & supplies (Indir. Mat.) 54,000
Utilites 60,000 Wages 90,000
(Factory 60%, Office 40%) (Factory 70%, Office 30%)
Salaries – Office Staff 30,000 Salaries – Sales Staff 10,000
Travelling Expenses – Sales 25,500 Factory Overheads 16,000
Sales 550,000
REQUIRED:
A] Cost of Goods manufactured and Sold statement for the year ended Dec. 31, 1990.
B] Income Statement for the year ended Dec. 31, 1990.
Step by step
Solved in 2 steps with 3 images
