Prepare cost sheet from the following particular in the book of M/s Konika LLC Raw material purchased
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Question:
- Prepare cost sheet from the following particular in the book of M/s Konika LLC
Raw material purchased = OMR 1, 20,000
Paid freight charges = OMR 10,000
Wages paid to labor = OMR 35,000
Directly chargeable expenses = OMR 25,000
Factory on cost = 20% of prime cost
General and administrative expenses = 4% of factory cost
Selling and distribution expenses = 5% of production cost
Profit 20% on Cost of sales
Opening stock Closing stock
Raw material 15,000 20,000
Work in progress 17,500 24,000
Finished goods 20,000 27,500
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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