Prepare income statement from the below information. Show manufacturing cost, cost of goods manufactured and cost...

 

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Prepare income statement from the below information. Show manufacturing cost, cost of goods manufactured and cost of goods sold in the statement. Direct Material - opening stock is Rs.1,572,400, Purchases is Rs.8,420,000, purchase return is Rs.42,000 closing raw material is Rs1,270,000. Conversion cost total is Rs. 11,352,300. Calculate Direct labor separately in the statement. WIP-opening stock is Rs.2,338,000 and WIP closing stock is Rs.1,303,200. Opening finished goods is Rs. 966,100 and Closing finished goods is Rs.658,000. Sales is Rs.25,000,000. Prepare income statement from the below information. Show manufacturing cost, cost of goods manufactured and cost of goods sold in the statement. Direct Material - opening stock is Rs.1,572,400, Purchases is Rs.8,420,000, purchase return is Rs.42,000 closing raw material is Rs1,270,000. Conversion cost total is Rs. 11,352,300. Calculate Direct labor separately in the statement. WIP-opening stock is Rs.2,338,000 and WIP closing stock is Rs.1,303,200. Opening finished goods is Rs. 966,100 and Closing finished goods is Rs.658,000. Sales is Rs.25,000,000.

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Answer To prepare the income statement and calculate the manufacturing cost cost of goods manufactured and cost of goods sold we need to follow these ... View the full answer