The books of Abay manufacturing company present the following data for the month of April 20x9:

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

cost and management accounting

Assignment 1:

The books of Abay manufacturing company present the following data for the month of April 20x9:

Direct labour cost $17,500 being 175% of works overheads.

Cost of goods sold excluding administrative expense $56,000

Inventory accounts showed the following opening and closing balances

April 1($) April 30($)

Raw materials 8,000 10,600

Work –in-progress 10,500 14,500

Finished goods 17,600 19,000

   Other data  are ($)

Selling expenses 3,500

General and administration expenses 2,500

Sales for the month 75,000

         

                             Required

i. Compute the value of materials purchased. (10%)

ii. Prepare a cost statement showing the various elements of cost and also the profit earned. (15%)

 

 

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