question archive Kamran Company produces various types of fertilizer
Kamran Company produces various types of fertilizer. No beginning units in process or finished units were on hand on January 1, 2015, 30,000 finished units were on hand on December 31, 2015 and 95,000 units were sold during the year. There were no units in work in process inventory on December 31, 2015. The material put into production cost Rs. 300,000. 75% were direct material. There was no beginning or ending material inventory. Labor costs were Rs. 350,000, 40% was for indirect labor. Factory overhead costs, other than indirect materials and indirect labors were the following: Heat, light and power Rs. 115,000 Depreciation 78,000 Factory Taxes 65,000 Repairs and Maintenance 42,000 Selling Expenses were Rs. 80,000 general and administrative expenses were Rs. 50,000. Calculate Cost of Goods Manufactured.
Purchased 3 times