COURSE NAME: COST AND MANAGEMENT

SECTION: AM

STUDENT NAME MUHAMMAD YASIR

STUDENT ID SP19-BBAH-0038
SUBMISSION DATE
3-Apr-20
TEACHER NAME SHAHID IQBAL

SP2020

Question no 2
Relevant Company
Schedule For Direct Material Used:
Direct material- Beginning 75000
Purchases (Net) 336000 (411000-75000)
Raw material Available for use 411000
Raw Material Ending 85000
Direct Material used 326000

Total Manufacturing Cost = Direct Material + Conversion Cost

686000=326000+Conversion Cost
Conversion Cost=686000-326000
Conversion Cost= 360000

Conversion Cost = Direct Labor + F.O.H

360000=X+0.6X
360000=1.6X
360000/1.6=X
X=225000 Direct labor Cost

Schedule for Cost of Good Manufactured:

Direct Materila Used 326000
Drect Labor 225000
F.O.H (60% OF D.L) 135000
Total Manufacturing Cost 686000
Add: Work in Process (Beginnng ) inventory 80000
Total work in Process 766000
Less: Work in Process (Ending ) Invetory 30000
Cost of Good Manufacturer 736000
Schedule for Cost of Goods Sold:
Finished Goods (Beginnng )Inventory 90000
Add: Cost of Good Manufactured 736000
Cost of Goods Availbale for Sale 826000
Less: Finished Goods (Ending ) Inventory 110000
Cost of Goods Sold 716000
 HOWARD MANUFACTURING
Question no 5 or Pb 2.6
Schedule For Cost Of Good Sod Statement:
Finished Goods Beginning 150,000
Cost of Goods Manufactured 148,000
Finished Goods Available for Sa 298,000
LESS: Finished Goods Ending 164,400
Cost of Goods Sold 133,600

ScheduleE Cost Of Good Manufactured:

Direct Material used 441,520 (1484800 -1043280)
Direct Labor 453,600
FOH of 130% D.L 589,680 (453600*130%)
Manufacturing Cost 1,484,800
WIP-Beginning 99,600
Total WIP 1,584,400
WIP Ending 104,400
Cost Of Good Manufactured: 1,480,000

dule For Direct Material Used:

Direct material- Beginning 90,000
Purchases (Net) 445,520 (535,520 -90,000)
Raw material Available for use 535,520
Raw Material Ending 94,000
Direct Material used 441,520

Working:

FOH Rate =39780/30600 (i.e. F.O.H is 130% of direct labor costs)

1.3*100=130%

rking In Finished Good -Ending:

Raw material 49,860
Direct Labour 49,800
FOH (1.3*44800) 64,740
Total Wip Ending 164,400
 MAT COMPANY
Question no 8

Schedule For Direct Materials Used:

Raw Materials (Beginning Inventory ) 20,000
Add: Net Purchases of Raw Materials 110,000
Cost of Raw Materials Available For Sale 130,000
Cost of Raw Materials (Ending ) 25,000
Direct Materila Used 105,000

Schedule for Cost of Good Manufactured:

Direct Materila Used 105,000
Drect Labor 159,333
F.O.H 50% OF D.L COST 79,667
Total Manufacturing Cost 344,000
Add: Work in Process (Beginnng ) inventory 40,000
Total work in Process 384,000
Less: Work in Process (Ending ) I nvetory 36,000
Cost of Goof Manufacturer 348,000

CONVERSION of COST
Conversion Cost = DIRECT LABOR + F.O.H
Conversion Cost=159333+79667
Conversion Cost=239000

PRIME COST =DIRECT MATERIAL + DIRECT LABOR

Prime Cost = 105,000+159,333
Prime Cost =264333

Schedule for Cost of Goods Sold:

Finished Goods (Beginnng )Inventory 102,000
Add: Cost of Good Manufactured 348,000
Cost of Goods Availbale for Sale 450,000
Less: Finished Goods (Ending ) Inventory 105,000
Cost of Goods Sold 345,000

Total Manufacturing Cost = Direct Material Used - Conversion Cost

344,000=105000-Conversion Cost
344,000-105,000 = Conversion Cost
Conversion Cost =239,000
 Conversion Cost = Direct Labot + F.O,H
239,000 = X + 0.5X
239,000/1.5 = X
X = 159,333 Direct Labor
Question no 7
ADIL MANUFACTURE

F.O.H is 70% Of Conversion Cost

F.O.H = 0.
140,000/0.7 = X
200000 = X Conversion Cost

Conversion Cost = Direct Labor + F.O.H

200,000 = Direct Labor +140,000
200,000 - 140,000 = 60,000 Dirct Labor

Schedule For Direct Materials Used:

Raw Materials (Beginning Inventory ) 50,000
Add: Net Purchases of Raw Materials 300,000
Cost of Raw Materials Available For Sale 350,000
Cost of Raw Materials (Ending ) 20,000
Direct Materila Used 330,000

Total Manufacturing Cost

Direct Material 330,000
Direct Labor 60,000
F.O.H 140,000
Total Manufacturing Cost 530,000

WIP ( Beg) 30% Move Then Its Ending

WIP( End ) Indepentent
WIP(Beg ) Dependent
WIP ( Beg ) = x , WIP ( End ) 30% i.e 0.3x

Cost Of Good Manufactured

8/15 * 1500,000 = 800,000

COSM = TMC + WIP ( Beg) -WIP ( End)

800,000 = 530,000+0.3x-x
800,000=530,000=0.3x
x=270,000/0.3
WIP(End)=900,000

I have to find Beginning Inventory like this:

WIP (End)=98,000*1.3
Wip(Beg)=11,70,000
 Qustion No 11
HELPER CORLPORATIONN

ScheduleE Cost Of Good Manufactured:

Total Manufacturing Cost 1,000,000
Add: Work in Process (Beginnng ) inventory 120,000
Total work in Process 1,120,000
Less: Work in Process (Ending ) I nvetory 150,000
Cost of Goof Manufacturer 970,000

Cost Of Good Manufactured

Total Manufacturing Cost + WIP (Beg ) + WIP (End ) = COGM
1000,000+0.8X+X=970,000
1000,000-970,000=X-0.8X
30,000=1-0.8X
X=30,000/0.2
X=150,000 WIP(End)
Wip (End)=150,000