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MGT- 402 Assignment No 1 Solution Spring 2018 Due Date 17-05-2018

MGT- 402 Assignment No 1 Solution

Here is the solution of assignment no 1 of MGT- 402 "Cost and Management Accounting" . I am sharing a jpg of solved assignment question but if you want to get docx file then click the link given below

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Explanation of Solution: 
Ray Corp. provides the following data for the year 20X7:

Direct Labor Cost
Rs.    130, 000
Indirect Labor Cost                   
Indirect Material Cost
Miscellaneous Factory Overhead Costs                 
210, 000

Factory overhead is applied at the rate of 75% of direct labor cost. 3,900 units were sold during 20X7 at Rs. 200 per unit. Inventory accounts showed following opening and closing balances:

Jan. 1
Dec. 31
Raw Materials
Rs.    27,000
Rs.   17,000
Work in Process
Finished Goods
Finished Goods (units)

Using the above data, determine following for the year 20X7:
1.   Number of units manufactured                                                       (1 Point)
2.   Unit cost of finished goods                                                              (1 Point)
3.   Value of finished goods                                                                    (2 Points)
4.   Cost of goods sold statement at normal and at actual                       (5 Points)
5.   Gross profit                                                                                         (1 Point)


Using above data, we determin following for the year 20x7

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