Rs 420 Rs 60 and Rs 120 respectively Rs 60 Rs 120 and Rs 420-00131
This subjective question is related to the book/course
vu bnk603 Consumer Banking.
It can also be found in
vu bnk603 Mid Term Solved Past Paper No. 2.
Question 1: Rs. 420, Rs. 60 and Rs. 120, respectively
Rs. 60, Rs. 120 and Rs. 420, respectively
Rs. 120, Rs. 60 and Rs. 420, respectively
Rs 60, Rs. 420 and Rs. 120, respectively
CK Products Limited purchased materials of Rs. 550,000 and incurred direct labor of Rs. 420,000 during the year ended June 30, 2006. Factory overheads for the year were Rs.380,000. The inventory balances are as follows:
Required:
Cost Of Goods Manufactured Statement.
Cost Of Goods Sold Statement.
Rs. 60, Rs. 120 and Rs. 420, respectively
Rs. 120, Rs. 60 and Rs. 420, respectively
Rs 60, Rs. 420 and Rs. 120, respectively
CK Products Limited purchased materials of Rs. 550,000 and incurred direct labor of Rs. 420,000 during the year ended June 30, 2006. Factory overheads for the year were Rs.380,000. The inventory balances are as follows:
| July 1, 2005 June 30, 2006 | Rupees | Rupees |
| Finished goods | 90,000 | 105,000 |
| Work in process | 121,000 | 110,000 |
| Materials | 100,000 | 105,000 |
Required:
Cost Of Goods Manufactured Statement.
Cost Of Goods Sold Statement.
Answer:
| Opening inventory | 100,000 |
| Add: purchases | 550,000 |
| Less: Closing inventory | 105,000 |
| Direct material used | 545,000 |
| Add: Direct labour | 420,000 |
| Prime Cost | 965,000 |
