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Q4. MM inc. submits the following data for September. ------------------------------------------(30)
Direct Labor cost Rs=80,000, Factory overhead is applied at the rate of 125% of D. Labor cost.
Inventories Beginning Ending
Finished goods. 17,000 19,000
W.I. P 10,000 12,000
Material 9,000 5,400
Cost of goods sold Rs=222, 000.
Other data
Sales for the Month Rs= 400,000
Marketing Expenses Rs=28,200
General and administration expenses Rs=44,000
Required:
Q:prepare the cost of goods sold statement from the above data.
Q;Income Statement
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