User Account

All Pages

Calculate the amount of cost of goods manufactured

Assignment Help Financial Accounting
Reference no: EM132585063

Following information is extracted from the books of a manufacturing concern on 31st December 2019.

Particulars Rs.                                                        Particulars Rs.

Opening stock of raw material                                13,000

Furniture and Fixtures                                          72,000

Plant and Machinery                                            98,000

Bank charges                                                        5,453

Cash in hand                                                          12,800

Cost of material available for use                               62,000

Opening inventory of finished goods                               8,000

Cost of direct material used                                        50,000

Sundry creditors                                                      54,000

Direct labour cost                                                    10,000

Sundry debtors                                                      20,000

Factory overhead cost                                             5,000

Loan taken from bank                                                44,300

Sales                                                                     85,000

Cost of goods available for sale                                      75,000

Gross profit                                                                    21,000

Required

Question a: Based on the above information, you are required to calculate the amount of:

1. Purchases

2. Prime cost

3. Cost of goods manufactured

4. Conversion cost

5. Cost of goods sold

Reference no: EM132585063

Questions Cloud

Political philosophy concerns : Political philosophy concerns itself with the formation and maintenance of civil societies. Its central theme is the need to explain the relationship
Find external revenue reported by operating segments : Reported revenues include ?30,000,000 of sales to external customers. External revenue reported by operating segments must be at least?
Risk premium on the three-year bond : Suppose that the yield curve shows that the one-year bond yield is 8%, the two-year yield is 7%, and the three-year yield is 7%.
Purchasing and supply management function : Describe what you would do at the first day of your job in a purchasing and supply management function.
Calculate the amount of cost of goods manufactured : Calculate the amount of Cost of goods manufactured and Cost of goods sold. information is extracted from the books of a manufacturing concern on 31st December
How it is contributing for human computer interaction : identify one topic from the lecture of same week and write about your understanding for that topic in your own words and provide
The option to expand if immediate investment project : The option to expand if the immediate investment project succeeds. The option to wait (and learn) before investing.
What the cost of delivering inventory to customers is : If Fresh Foods Company pays the remaining amount of invoice within the discount period, the amount paid should be? What cost of delivering inventory to customer
Selections for the west coast transit marketing team : Selections for the West Coast Transit marketing team were made and now your job is to present the recommendation to your director.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd