Cost Accounting
The ABC Manufacturing Co. submits the following information for the period of May.
INVENTORIES
May 1, 1998
May 31, 1998
Raw Material
10000
12000
Work in Process
9800
10200
Finished Goods
11600
7100
Purchase of raw material for the period was Rs.75400; Direct Labour incurred during the period was
Rs.25000. Factory Overhead is applied @ 50% of Direct Labour Cost.
Required:
Prepare Cost of Goods Sold Statement.