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Mgt 101 assignment solution 1 2020

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Daniyal Subhani
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Mgt 101 assignment solution 1 2020

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Mgt101 assignment solution
 Question:
 
Particulars
Rs.
Particulars
Rs.
Opening stock of raw material
13,000
Furniture and Fixtures
72,000
 
 
 
 
Plant and Machinery
98,000
Bank charges
5,453
 
 
 
 
Cash in hand
12,800
Cost of material available for use
62,000
 
 
 
 
Opening inventory of finished
8,000
Cost of direct material used
50,000
goods
 
 
 
Sundry creditors
54,000
Direct labour cost
10,000
 
 
 
 
Sundry debtors
20,000
Factory overhead cost
5,000
 
 
 
 
Loan taken from bank
44,300
Sales
85,000
 
 
 
 
Cost of goods available for sale
75,000
Gross profit
21,000
 
Required:
 
Based on the above information, you are required to calculate the amount of:
 
Purchases
 
Prime cost
 
Cost of goods manufactured
 
Conversion cost
 
Cost of goods sold

Solution
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