Question # 2
The Pak Mfg. Co. provided the following information relating to the current year 2012:-
Direct Material used Rs.66000
Indirect Materials
4,950.
Direct Labor
82500.
Indirect Labor
6600.
Factory Overheads (Excluding Indirect Materials and Labor) 49500.
Finished Goods Inventory Beg. 11550.
Finished Goods Inventory ending 33,000.
Selling and General Expenses 43500.
Sales for the period 337,500.
Work in Process-beg 10,000.
Work in Process-Ending 12,500
REQUIRED:
Compute the following:-
i) Prime Cost.
ii) Cost of Goods Manufactured.
iii) Processing or conversion Cost.
iv) Cost of Goods Sold.
v) Net Income or Loss for the period.