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This query is : Resolved

Guest

Guest (Querist)

23 November 2012 Opening Stock
Raw Materials 17,400
Work-In-Progress 11,200
Finished Goods 41,500

Closing Stock
Raw Materials 18,100
Work-In-Progress 11,400
Finished Goods 40,700

Overhead Expenses - 61,100
Wages - 40,400
Purchase of Raw material - 91,900
Cost of Finished goods Produced ?
Cost of Finished goods Sold ?

Dilip

Dilip (Expert)
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24 November 2012 Cost of Stock given to WIP
= RM Purchase + RM Opening - RM Closing
= 91,900 + 17,400 - 18,100
= 91,200

Cost of FG Produced
= Stock given to WIP + WIP Opening - WIP Closing
= 91,200 + 11,200 - 11,400
= 91,000

Cost of FG Sold =
= Cost of FG Produced + FG Opening - FG Closing
= 91,000 + 41,500 - 40,700
= 91,800

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