: Haier group of companies submitted following information on June 30, 2019. Accounts Rs. Sales 1,000,000 Purchases
Question:
: Haier group of companies submitted following information on June 30, 2019.
Accounts Rs.
Sales 1,000,000
Purchases 193,000
Direct Labor 105,000
Purchase return and allowance 3,500
Work-in process, Jul 01, 2018 30,000
Work-in process, Jun 30, 2019 32,000
Sale Return (9,000)
Applied MOH 110,000
Depreciation (70% factory, 15% admin, 15% Marketing) 60,000
Raw material inventory, Jul 1, 2018 90,000
Raw material inventory, Jun 30, 2019 88,000
Salaries expense (20% factory, 10% admin, 25% Marketing) 40,000
Promotion expense 4,000
Sales discount and allowance 10,000
Indirect material cost 26,000
Indirect labor 39,000
Finished goods inventory, Jul 1, 2018 70,000
Finished goods inventory, Jun 30, 2019 60,000
Purchase return and Allowance 5,000
Required:
Cost of goods sold statement.
income statement