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Find out the Cost of goods manufactured? Materials consumed=50000 D.Labor =20000 FOH = 150% OF D.labor WIP(beginning) =6000 WIP(ending) = 5000.

Cost Accounting
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Question added by Muhammad Saeed , Accountant , Abaseen Steel Re-Rolling Mills
Date Posted: 2015/03/05
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SHIBU THOMAS PULICKAL
by SHIBU THOMAS PULICKAL , Chief Accountant , Steel Trading Group (STG)

Cost of goods manufactured= (D.materials consumed+WIP Beginning-WIP Ending)+D.Labor+150% FOH

Answer will be101,000

Syed Ammar
by Syed Ammar , Senior Accounts Officer , The City Schools (Group Head office)

101,000 would be answer .........

Muhammad Saeed
by Muhammad Saeed , Accountant , Abaseen Steel Re-Rolling Mills

Sorry Syed Ammar you are wrong.

Cost of goods manufactured= D.materials consumed+D.Labor+FOH+W.I.P(Beginning Inventory) 

 

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