cost of good sold phele karna hay us main say FOH find karainy
mera be yhe question h FOH kasy calculate kya h?
Assignment Solution File
Cost & Management Accounting (MGT 402)
Question # 1: Calculation of Total Factory Cost.
Particulars Amount
Opening Raw Material 19,000
Add Purchases (75,000)
Material Available for Use 94,000
Less Closing Raw Material (21,000)
Material Consumed 73,000
Add Direct Labour (31,000)
Prime Cost 104,000
Add FOH (Factory Overhead) (43,400)
Total Factory Cost 147,400
Question # 2: Calculation of Closing Inventory of Finish Goods.
No of Units Manufactured= Units Sold + Closing Finished Units – Opening Finished Units
No of Units Manufactured= 26,300 + 3,700 – 4,400
No of Units Manufactured= 25,600 units
Per unit Cost of Goods Manufactured = Cost of Goods Manufactured / No of Units
Manufactures
Per unit Cost of Goods Manufactured = 148,500/25,600
Per unit Cost of Goods Manufactured = 5.8
Closing Finished Goods Inventory= Closing Finished Units * Cost per unit
Closing Finished Goods Inventory= 3,700*5.8
Finished Goods Inventory= 21,463
Question # 3: Calculation of Cost of Goods Sold.
Izhar Corporation
Cost of Goods Sold Statement
As on 31, October 2010
Particulars Amount
Opening Raw Material 19,000
Add Purchases (75,000)
Material Available for Use 94,000
Less Closing Raw Material (21,000)
Material Consumed 73,000
Add Direct Labour (31,000)
Prime Cost 104,000
Add FOH (43,400)
Total Factory Cost 147,400
Add WIP (Work in Process) opening (21,000)
Cost of Goods Available for Manufacturing 168,400
Less Closing WIP (Work in Process) (19,900)
Cost of Goods Manufactured 148,500
Add Opening Finished Goods (13,100)
Cost of Goods Available for sale 161,600
Less Closing Finished Goods (21,463)
Cost of Goods Sold 140,137
Question # 4: Calculation of Gross Profit and Net Profit.
Izhar Corporation
Gross Profit & Net Profit Statement
As on 31, October 2010
Particulars Amount
Sales 184,100
Less Cost of Goods Sold 140,137
Gross Profit 43,963
Less Operating Expenses 23,450
Net Profit 20,513
On Fri, Oct 28, 2011 at 4:21 PM, Shami <mc090402658@vu.edu.pk> wrote:How can we calculate FOH in the assignment ?
On Fri, Oct 28, 2011 at 10:32 AM, Tahir Mahmood <tahirmahmood222@hotmail.com> wrote:
--pls mail the the assignment of MGT402 to day is last date.
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