LARKANA CAMBRIDGE ACADEMY ((LCA

OPPOSITE, NATIONAL BANK OF PAKISTAN, BAKRANI ROAD, LARKANA.

The House of Learning!

CELL# 03337219115 (074)4042888

PHONE#

SUBJECT | Cost Accounting

C.O.G.S & I.S

Income Statements

Company A Sales Finished goods, beginning inventory Cost of goods manufactured ? Finished goods,ending inventory 42,000 Cost of goods sold Gross Profit ? Operating Expenses 46,000 Net income W.I.P (Opening) Direct Labor Cost 42,000 Raw Material Used 34,000 Manufacturing Overhead 30,000 W.I.P (Closing) 1 |Page ? ? 14,000 13,000 16,000 18,000 Best of Luck ? 40,000 ? $108,000

Company B ?

Company C $120,000 ? 30,000

14,000 38,000

80,000 36,000

74,000 85,000

30,000 50,000 21,000

? ? 24,000

30,000 18,000 24,000 ? 60,000

LARKANA CAMBRIDGE ACADEMY ((LCA

OPPOSITE, NATIONAL BANK OF PAKISTAN, BAKRANI ROAD, LARKANA.

The House of Learning!

CELL# 03337219115 (074)4042888

PHONE#

Income Statements

2007 Sales Finished goods, beginning inventory W.I.P (Opening) Raw Material Used 42,500 Direct Labor Cost 27,500 Manufacturing Overhead 30,000 W.I.P (Closing) Cost of goods manufactured Finished goods,ending inventory Cost of goods sold Gross Profit Operating Expenses 35,000 Net income ? 42,500 145,500 137,500 $ ?

2008 $?

2009 240,000 ? ? 47,500 ?

2010 225,000 ? 7,500 30,000 50,000 37,500 ? 112,500 ? 121,000 ? ? 95,000 11,500 ? 105,000 ? ? ?

32,500 10,000 44,500 ? 50,500 15,000 ?

52,500 ? ? ? ? 144,500 ?

42,500 90,000

37,500 60,000

2 |Page

Best of Luck

LARKANA CAMBRIDGE ACADEMY ((LCA

OPPOSITE, NATIONAL BANK OF PAKISTAN, BAKRANI ROAD, LARKANA.

The House of Learning!

CELL# 03337219115 (074)4042888

PHONE#

The following amounts and accounts were taken from the records of AQSA Manufacturing Company:

Advertising Expense Bad debt expense 18,000 Dep. plant machinery 39,000

126,000 33,000

Administrative Salaries

462,000

Property taxes- plant equipment

48,000

Property taxes- sales office eq:

Dep: - sales office equipment 36,000 Direct labour Plant utilities 159,000 Plant rent Plant supplies used 759,000 32,100

18,000

Purchase discount raw materials

Raw materials inv: 01/01/2010 Raw materials inv: 12/31/2010

134,000

234,000 150,000 276,000

Sales Sales return

3,766,000 66,000

Finished goods inv :01/01/2010 120,000 Finished goods inv :12/31/2010 Indirect labor cost Machinery Repairs

Sales commission expense

255,000

W.I.P Inv: 01/01/2010 W.I.P Inv: 12/31/2010 Raw material purchases 63,000

51,000

186,000 42,000

1,350,000

3 |Page

Best of Luck

LARKANA CAMBRIDGE ACADEMY ((LCA

OPPOSITE, NATIONAL BANK OF PAKISTAN, BAKRANI ROAD, LARKANA.

The House of Learning!

CELL# 03337219115 (074)4042888 63,000

PHONE#

Sales office expense

The following amounts and accounts were taken from the records of RAJA Manufacturing Company:

W.I.P Inv: 01/01/2010

32,400 42,000 90,000

Finished goods inv :12/31/2010 Sales return Factory supplies used Dep: - office equipment 165,168

81,600 19,200 41,400 59,400 46,800

Raw materials inv: 01/01/2010 Finished goods inv :01/01/2010 Indirect labor cost Sales commission expense Sales Raw material purchases Freight-in 80,400

Raw materials inv: 12/31/2010 Direct labour Plant utilities Administrative Salaries W.I.P Inv: 12/31/2010 37,920 10,920 19,320 236,400 16,440

1,376,400 432,000 18,000 8,400

188,640

Purchase discount raw materials Plant rent Advertising Expense 20,640 30,000

Plant insurance Dep. plant equipment

4 |Page

Best of Luck