Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc manufactures and sells metal shelving. it bega

ABC manufactures and sells metal shelving. It began operations on Jan 01. Costs incurred for...

90.2K

Verified Solution

Question

Accounting

ABC manufactures and sells metal shelving. It began operations on Jan 01. Costs incurred for the current year are as follows:

DM Rs 1.4 lacs V

DL Rs 0.3 lacs V

PLANT ENERGY COSTS Rs 0.05 lacs V

IND L Rs 0.1 lacs V Rs 0.16 lacs F

IND other Rs 0.08 lacs V Rs 0.24 lacs F

MKT. DIST and Cust OH Rs 1.2285 lacs V Rs 0.4 lacs F

Admn OH Rs 0.5 lacs F

Variable manufacturing costs are with respect to units produced; variables MDC are wrt to units sold

Inventory data: begin Jan 01 and ending Dec 31

DM 0 kg 2000 kg

WIP 0 units 0 units

FG 0 units ? units

Production in the current year was 1 lac units; 2 kg of DM is used to make 1 unit of FG. Revenue were Rs 436800. The FG inventory ending is at average unit manufacturing cost for the current year and was Rs 20970. Calculate period ending DM inventory cost; period ending FG inventory in units; SP per unit; operating income

and

If in the above problem, Indirect other manufacturing costs are not inventoriable cost and there are 9000 units of FG inventory on Dec 31. Then, calculate FG inventory ending total cost, and operating income of the year

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Using the z table (The Standard Normal Distribution Table), find the critical value (or values) for...

Biology
1.2K views

Carbonic anhydrase is an enzyme that catalyzes the interconversion of carbon dioxide and water to bicarbonate...

Biology
1.2K views

What phase of Meiosis is being shown in the picture below O Prophase I O...

Biology
1.2K views

Which is another way to write this line without using inverted syntax?A. Aside I did...

Physics
1.2K views

A body is suspended from a spring balance kept in a satellite The reading of...

Geometry
1.2K views

In the figure below J 105 7 L Complete each statement m X m2A AX...

Basic Math
1.2K views

3 Complete all parts of the graphic organizer Dot Pattern F Stage O Stage I...

Statistics
1.2K views

3 AKS 11 A news show displays the results of a poll for a two...

Calculus
1.2K views

For the given function find all asymptotes and the coordinates of any holes in its...

Algebra
1.2K views

7 Which of the following expressions is equivalent to 3 x 4x 4 4 x...

Accounting
1.2K views

Required information Exercise 13-11 (Algo) Analyzing efficiency and...

Accounting
1.2K views

Consider the following: in all respects, company a and company b are identical except company...