The following inventory data relates to XYZ Ltd: Requirements: (i) Determine raw materials purchases. (ii) Determine the
Question:
The following inventory data relates to XYZ Ltd:
Requirements:
(i) Determine raw materials purchases.
(ii) Determine the direct labour cost incurred.
(iii) Determine the cost of goods sold
Transcribed Image Text:
Finished goods Work-in-progress Raw materials Additional information: Cost of goods available for sale Total goods processed during the period Factory overheads Direct materials used Beginning Rs. 1,10,000 Rs. 70,000 Rs. 90,000 Inventories Ending 95,000 80,000 95,000 Rs. 6,84,000 Rs. 6,54,000 Rs. 1,67,000 Rs. 1,93,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
i Raw Materials purchases Direct Materials used Add Closing Sto...View the full answer
Answered By
John Aketch
I am a dedicated person with high degree of professionalism, particularly in academic writing. My desire is to is to make students excel in their academic endeavor.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The following data refer to Maximus Manufacturing Ltd for the current years: Required: Prepare Maximus manufacturings: 1. Schedule of cost of goods manufactured. 2. Schedule of cost of goods sold. 3....
-
XYZ Company reports the following inventory data for the month of June: 1. Direct materials purchases were $140. 2. Direct costs of production were $220. 3. Variable costs of production were $280. 4....
-
In a data set of 10,000 users, 800 users watched the movie Harry Potter; 600 users watched the movie Jumanji; 300 users watched both Harry Potter and Jumanji. a. What is the probability that a...
-
The enzyme Stell participates in several distinct MAP kinase signaling pathways in the budding yeast S. cerevisiae. What is the substrate for Ste 11 in the mating factor signaling pathway? When a...
-
Provide an example of an indirect materials cost.
-
Silven Company has identified the following overhead activities, costs, and activity drivers for the coming year: Silven produces two models of cell phones with the following expected activity...
-
A conducting bar that is \(\ell=40 \mathrm{~mm}\) long can slide with negligible friction on two parallel conducting rails positioned at an incline of \(\theta=15^{\circ}\) (Figure P29.66)....
-
The Clayton Manufacturing Company is considering an investment in a new automated inventory system for its warehouse that will provide cash savings to the firm over the next five years. The firm's...
-
10.Carp Co has announced that it will pay an annual dividend equal to 55% of earnings. Its earnings per share is $0.80, and it has ten million shares in issue. The return on equity of Carp Co is 20%...
-
Explain the nature of product and period cost. How do they affect net income of a business enterprise?
-
From the following particulars, prepare a cost sheet for the year ended 31.12.2002 Stock of finished goods (1.1.2002) Stock of raw materials (1.1.2002) Work-in-progress (1.1.2002) Purchase of raw...
-
Declare variables matching the following descriptions: a. A short integer with the value 80 b. An unsigned int integer with the value 42,110 c. An integer with the value 3,000,000,000
-
A On 1 January 2012 the following balances, among others, stood in the books of B. Baxter: (a) Lighting and heating, (Dr) 192. (b) Insurance, (Dr) 1,410. During the year ended 31 December 2012 the...
-
On 1 January 2011 the following balances, among others, stood in the books of M. Prior, a sole proprietor: (a) Business rates, 400 (Dr); (b) Packing materials, 800 (Dr). During the year ended 31...
-
The law of diminishing marginal returns states that eventually the marginal product of an input will tend to fall as more input is added. Describe real-life scenarios, explaining why this is likely...
-
Pick a product like Applegate Deli Meats or a service such as Nationwide Insurance. Assess the advantages of expanding to a more global presence.
-
What, in your judgment, are the key problems or issues in the brand consolidation process?
-
Spencer Cook died on July 18 of the current year, leaving a gross estate of $4,600,000. Claims to be settled against that estate included funeral, administrative, and medical expenses of $180,000 and...
-
Critical reading SAT scores are distributed as N(500, 100). a. Find the SAT score at the 75th percentile. b. Find the SAT score at the 25th percentile. c. Find the interquartile range for SAT scores....
-
Explain equivalent units. Why are equivalent-unit calculations necessary in process costing?
-
Explain equivalent units. Why are equivalent-unit calculations necessary in process costing?
-
Explain equivalent units. Why are equivalent-unit calculations necessary in process costing?
-
Create a presentation with speaker's notes that: Provides a title slide (1 Slide) Provides an agenda (1 Slide) Provides an introduction (1 Slide) Examines personality characteristics and personal...
-
Assessing the Effectiveness of Intervention Programmes Aimed at Improving Matric Performance in Serial Underperforming Secondary Schools at uMzinyathi District in KwaZulu-Natal" : With regard to...
-
How can organizations effectively cultivate a culture of intrinsic motivation and commitment among employees to enhance overall engagement levels?
Study smarter with the SolutionInn App