Account Department of the Aqib Khan Co. provides the following data at end of June 2017, you are required to prepare Cost of Goods Manufactured; Cost of Goods Sold; find out Gross Profit/ Loss & Net profit/Loss and Per unit Manufacturing Cost at the Year ended May 30th, 2017, assuming that Net Sales of Rs. 72,000, Marketing Expense 5%, Advertising Expense 1% and Other Expense 3% of Net Sales; Net Purchases Rs. 36,000 and Direct Expenses are 1% of Net Purchases; FOH 2/3 of Direct Labor and Direct Labor cost is Rs. 15,000. Units are produced during the period was 5,000. Beginning Inventories Finished Goods Work in Process Material Rs 7,000 8.000 * 8,000 ************ Ending Inventories Rs 10.200 15,000 8.500

Account Department of the Aqib Khan Co. provides the following data at end of June 2017, you are required to prepare Cost of Goods Manufactured; Cost of Goods Sold; find out Gross Profit/ Loss & Net profit/Loss and Per unit Manufacturing Cost at the Year ended May 30th, 2017, assuming that Net Sales of Rs. 72,000, Marketing Expense 5%, Advertising Expense 1% and Other Expense 3% of Net Sales; Net Purchases Rs. 36,000 and Direct Expenses are 1% of Net Purchases; FOH 2/3 of Direct Labor and Direct Labor cost is Rs. 15,000. Units are produced during the period was 5,000. Beginning Inventories Finished Goods Work in Process Material Rs 7,000 8.000 * 8,000 ************ Ending Inventories Rs 10.200 15,000 8.500

Name: Huhuh 3Account Department of the Aqib Khan Co. provides the following
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Description: Huhuh 3Account Department of the Aqib Khan Co. provides the following data at end of June 2017, youare required to prepare Cost of Goods Manufactured; Cost of Goods Sold; find out Gross Profit/Loss & Net profit/Loss and Per unit Manufacturing Cost at

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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