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Find : d) Acid-test ratio

Ex. 7-15 a. SETIA HIAS PRODUCTION SDN BHD Statement of Cost of Goods Manufactured For the Month Ended March 31, 2018 RM 214,200 b. RM315,000 604,800 RM919,800 277,200 RM642,600 567,000 Work in process inventory, March 1, 2018 Direct materials: Materials inventory, March 1, 2018 Purchases Cost of materials available for use Less materials inventory, March 31, 2018 Cost of direct materials used in production Direct labor Factory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous cost Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs Less work in process inventory, March 31, 2018 Cost of goods manufactured RM 60,480 36,000 12,600 10,080 8,820 16,380 144,360 1,353,960 RM1,568,160 239,400 RM1,328,760 Finished goods inventory, March 1, 2018.. Cost of goods manufactured.... Cost of finished goods available for sale... Less finished goods inventory, March 31, 2018. RM 163,800 1,328,760 RM 1,492,560 189,000 Cost of goods sold... RM 1,303,560 Ex. 7-15 a. SETIA HIAS PRODUCTION SDN BHD Statement of Cost of Goods Manufactured For the Month Ended March 31, 2018 RM 214,200 b. RM315,000 604,800 RM919,800 277,200 RM642,600 567,000 Work in process inventory, March 1, 2018 Direct materials: Materials inventory, March 1, 2018 Purchases Cost of materials available for use Less materials inventory, March 31, 2018 Cost of direct materials used in production Direct labor Factory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous cost Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs Less work in process inventory, March 31, 2018 Cost of goods manufactured RM 60,480 36,000 12,600 10,080 8,820 16,380 144,360 1,353,960 RM1,568,160 239,400 RM1,328,760 Finished goods inventory, March 1, 2018.. Cost of goods manufactured.... Cost of finished goods available for sale... Less finished goods inventory, March 31, 2018. RM 163,800 1,328,760 RM 1,492,560 189,000 Cost of goods sold... RM 1,303,560

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