Tuesday Manufacturers Limited produces a single product. The following costs were incurred in the month of...

 

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Tuesday Manufacturers Limited produces a single product. The following costs were incurred in the month of June 2019: Direct labour Depreciation on plant and machinery Distribution costs (ii) (iii) Factory manager's salary Indirect labour Indirect material consumed Raw material purchases Selling costs Other production overheads Other administration overheads Rs. in '000 2,075 380 589 247 848 345 3,845 Following other information is available: (i) On 1 June 2019, stock of finished goods consisted of 1,350 units valued at Rs. 1,640 per unit while stock of raw materials was valued at Rs. 1,490,000. Required: Compute cost of goods sold for the month of June 2019. 1,248 580 388 5,200 units of finished goods were produced during June 2019. There was no work-in-progress at the end of the month whereas work in progress at 1 June 2019 was valued at Rs. 208,000. (iv) Stock of raw materials on 30 June 2019 was valued at Rs. 970,000. (v) 1,500 units of finished goods were available in stock as on 30 June 2019. (vi) Cost of finished goods is determined using FIFO method. Tuesday Manufacturers Limited produces a single product. The following costs were incurred in the month of June 2019: Direct labour Depreciation on plant and machinery Distribution costs (ii) (iii) Factory manager's salary Indirect labour Indirect material consumed Raw material purchases Selling costs Other production overheads Other administration overheads Rs. in '000 2,075 380 589 247 848 345 3,845 Following other information is available: (i) On 1 June 2019, stock of finished goods consisted of 1,350 units valued at Rs. 1,640 per unit while stock of raw materials was valued at Rs. 1,490,000. Required: Compute cost of goods sold for the month of June 2019. 1,248 580 388 5,200 units of finished goods were produced during June 2019. There was no work-in-progress at the end of the month whereas work in progress at 1 June 2019 was valued at Rs. 208,000. (iv) Stock of raw materials on 30 June 2019 was valued at Rs. 970,000. (v) 1,500 units of finished goods were available in stock as on 30 June 2019. (vi) Cost of finished goods is determined using FIFO method.

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