Reference no: EM132547466
The Black Pepper Corporation desires to classify the cost and provides you the figure of trial balance for the period ended on December 31, 2016 as under:
Rupees
Material Consumed 30% of direct labour cost
Factory overhead 60% of direct labour cost
Finished goods - Beginning 49,000
Finished goods - Ending 68,000
Work in process - Beginning 42,000
Work in process - Ending 51,300
Materials - Beginning 29,500
Materials - Ending 25,810
Cost of goods manufactured 460,000
Required:
Question 1: Prepare Cost of Good Manufacture Statement