The JS Company began business on 1st April 2010 and produced by the end of month June, 2010 40,000 units of its single product called SU- 211 Nozzle. The product requires three basic raw materials, A,B and C, which were purchased during the first three months at the following prices and quantities: Required: A detailed profit and loss account showing the cost of goods finished and cost of goods sold

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Materia 1 A B с Purchased Price Per Kg. Supplies Repair and Maint. Depreciation Utilities Insurance Delivery expenses Rs 25 Supervision factory Selling and Administrative Salaries Other information: 20 50 Factory wages and other salaries paid were: Direct labour Indirect labour Quantities Purchase Kg 35,000 10,000 8,000 R$ 450,000 225,000 180,000 300,000 Factory Over head Rs 140,000 90,000 80,000 Ending inventory June 30, 2010 270,000 560,000 Kg 4,000 6,000 5,000 Selling & Admin. Expenses Rs 80,000 40,000 35,000 110,000 280,000 90,000 At the end of the three month finished goods inventories contained 1,500 units, while 38,500 units sold at an average sales price of Rs 175 per unit. Materia 1 A B с Purchased Price Per Kg. Supplies Repair and Maint. Depreciation Utilities Insurance Delivery expenses Rs 25 Supervision factory Selling and Administrative Salaries Other information: 20 50 Factory wages and other salaries paid were: Direct labour Indirect labour Quantities Purchase Kg 35,000 10,000 8,000 R$ 450,000 225,000 180,000 300,000 Factory Over head Rs 140,000 90,000 80,000 Ending inventory June 30, 2010 270,000 560,000 Kg 4,000 6,000 5,000 Selling & Admin. Expenses Rs 80,000 40,000 35,000 110,000 280,000 90,000 At the end of the three month finished goods inventories contained 1,500 units, while 38,500 units sold at an average sales price of Rs 175 per unit.

Answer rating: 100% (QA)

JS Company Profit and Loss Account for the period 1st April to 30th June 2010 Revenue Sales of SU211 ... View the full answer