Question

MS KP MM Corporation is a manufacturer that produces cosmetics. The following information has been taken from the company’s production, sales, and cost records for the just completed year Required: A. Prepare a Cost of Goods Manufactured Statement for the year. (2.5 Marks) B. Compute the number of units and cost of units in the finished goods inventory at the end of the year. Finished goods Rs. 0 ? Raw materials Rs 20,000 Rs 10,000 C. Prepare an Income Statement for the year under Absorption costing Method. D. Compute the following cost: i. Prime cost ii. Conversion cost iii. Inventoriable cost iv. Non-Manufacturing cost E. Prepare T accounts of the following i. Work in process ii. Finished goods

Answer 1

Answer:

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