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    Name Shehnila Azam Registration No# 45736 Course Cost and Management Accounting DAY Sunday Timing 3 To 6 Practice#1

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    yousuf Ahmed
    Shehnila Azam is registered as student number 45736 for the course Cost and Management Accounting at a Sunday class from 3 to 6 pm.

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    Name Shehnila Azam Registration No# 45736 Course Cost and Management Accounting DAY Sunday Timing 3 To 6 Practice#1

    Uploaded by

    yousuf Ahmed
    69 views6 pages
    Shehnila Azam is registered as student number 45736 for the course Cost and Management Accounting at a Sunday class from 3 to 6 pm.

    Original Title

    Cost Accountong.xlsx

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    Shehnila Azam is registered as student number 45736 for the course Cost and Management Accounting at a Sunday class from 3 to 6 pm.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    69 views6 pages

    Name Shehnila Azam Registration No# 45736 Course Cost and Management Accounting DAY Sunday Timing 3 To 6 Practice#1

    Uploaded by

    yousuf Ahmed
    Shehnila Azam is registered as student number 45736 for the course Cost and Management Accounting at a Sunday class from 3 to 6 pm.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 6

    NAME SHEHNILA AZAM

    REGISTRATION NO# 45736


    COURSE COST AND MANAGEMENT ACCOUNTING
    DAY SUNDAY
    TIMING 3 to 6

    Practice#1
    Indicate how a manager would assign the following costs to the various categories for a motorcy
    Product Costs
    Direct Labour Manufacturing
    Direct Materials
    Overhead
    Engines X
    Labor Costs X
    Factory
    Equipment
    Depreciation X

    Electricity to run
    factory
    equipment X
    Advertising
    Salary of Plant
    Manager X

    Shipping of
    finished product

    Salary of CFO

    Lubricant for
    tightening screws
    X
    Motorcycle seat X

    Practice #2

    P Company has provided the following data for the month of March
    Beginning Ending
    Raw materials inventory $25,000 30,000
    Work-in-process inventory 16,000 18,000
    Finished goods inventory 36,000 59,000

    March Activity
    Direct materials purchases $71,000
    Direct labor incurred 83,000
    Manufacturing overhead 74,000
    Indirect materials included in overhead 5,000

    Required: Prepare a Schedule of Cost of Goods Manufactured and a Partial Income Sta

    COST OF GOODS MANUFACTURED

    Opening Stock(Raw Material) 25000


    Add: Purchases 71000
    Merchandise available for use 96000
    Less: Closing Stock (Raw Material) (30,000)
    Raw Material (used) 66,000
    Less: Indirect Materials (used) (5,000)
    Direct Materials (used) 61,000
    Add: Direct labor incurred 83000
    Add: Manufacturing Overhead 74000
    Cost of Goods Manufactured 218000

    COST OF GOODS SOLD

    Finished Goods(Opening) 36000


    Add:Cost of Goods Manufactured 218000
    Merchandise available for sale 254000
    Less:Finished Goods(Ending) (59,000)
    Cost of Goods Sold 195000

    Practice#3

    D Company reported the following information on its income statements for the first quarter

    January February
    Beginning Finished goods inventory $61,600 ?
    Cost of Goods Manufactured 229,000 ?
    Goods Available for Sale ? 260,000
    Cost of Goods Sold ? ?
    Ending Finished goods inventory 72,800 61,600

    Required: Determine the missing values

    ANSWER#3

    January February
    Beginning Finished goods inventory $61,600 72,800
    Cost of Goods Manufactured 229,000 187,200
    Goods Available for Sale 290,000 260,000
    Cost of Goods Sold 217,200 198,400
    Ending Finished goods inventory 72,800 61,600
    CCOUNTING

    categories for a motorcycle company

    Period Cost

    X
    X
    and a Partial Income Statement showing Cost of Goods Sold

    ts for the first quarter

    March
    ?
    531,400
    ?
    531,400
    ?

    March
    61,600
    531,400
    593,000
    531,400
    61,600

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