The following is the data extracted from the records of an industrial company during the month of January :

riyals raw materials purchases

Direct wage costs riyals.

riyals shipping costs for purchased raw materials.

Indirect industrial costs amount to riyals.

Marketing costs and administrative costs are riyals and riyals, respectively.

riyals returns on raw materials purchases.

Inprocess production inventory costs at the beginning and end of the month are and riyals, respectively.

Completed production inventory costs at the beginning of the month are riyals.

The number of complete production units during the month is units.

The cost of raw materials inventory at the beginning and end of the month is and riyals, respectively.

The number of finished production inventory units at the beginning and end of the month is and units, respectively.

Unit selling price is riyals.

Required:

Preparation during January

a List of costs of raw materials used in production

B List of costs for finished production.

C List of costs for production sold.

D income list.

Calculate the initial cost and conversion cost

Answer rating: 100% (QA)

1 Preparation during January 2021 a List of Costs of Raw Materials Used in Production Raw Materials ... View the full answer