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FINAL PROJECT

Ammar Amer Baig

13048005071

Anam Zahra

13048005092

Atiqa Tabbassum
Danish Naeem Khan

13048005086

Sadaf Shahbaz

13048005105

Sana Amjad

13048005088

Course: Cost Accounting

Program: BBA (H) & BBIS


Sec: C

Submitted to: Sir Farukh Jamil

University of Management & Technology

Qus: 1
Cost of Goods Manufactured Statement

M/S Company A
Cost of goods manufactured statement
For the year ended 30 June 2014
Details

Rupees

Direct Materials (Opening Stock)


Add: Purchases (Net of discount and returns)

Rupees
0

Total raw material consumed

14,495,6
82

Direct Materials available for use


Closing Stock

14,495,6
82
0
14,495,
682

Equals: Direct Material used


Add: Direct Labor cost
Total wages to labor for manufacturing & wages to machine
operators

579,873
15,075,
555

Equals: Prime Cost


Add: Factory Over Heads (FOH)
Total Factory overhead

3,721,361

Equals: Total Factory Cost


Add: Work in Process (Opening Stock)

18,796,
916
0

Equals: Cost of Goods to be Manufactured


Less: Work in Process (Closing Stock)

18,796,
916
0

Equals: Cost of Goods to be Manufactured

18,796,
916

Qus: 1
Cost of Goods Manufactured Statement

M/S Company B
Cost of goods manufactured statement
For the year ended 30 June 2014
Details

Rupees

Direct Materials (Opening Stock)


Add: Purchases (Net of discount and returns)

Rupees
0

Total raw material consumed

15,764,8
07

Direct Materials available for use


Closing Stock

15,764,8
07
0
15,764,
807

Equals: Direct Material used


Add: Direct Labor cost
Total wages to labor for manufacturing & wages to
machine operators

612,483
16,377,
290

Equals: Prime Cost


Add: Factory Over Heads (FOH)
Total Factory overhead

3,822,83
0

Equals: Total Factory Cost


Add: Work in Process (Opening Stock)

20,200,
120
0

Equals: Cost of Goods to be Manufactured


Less: Work in Process (Closing Stock)

20,200,
120
0

20,200,
120

Equals: Cost of Goods to be Manufactured

Qus: 1
Cost of Goods Manufactured Statement

M/S Company C
Cost of goods manufactured statement
For the year ended 30 June 2014
Details

Rupees

Direct Materials (Opening Stock)


Add: Purchases (Net of discount and returns)

Rupees
0

Total raw material consumed

14,888,9
91

Direct Materials available for use


Closing Stock

14,888,9
91
0
14,888,
991

Equals: Direct Material used


Add: Direct Labor cost
Total wages to labor for manufacturing & wages to
machine operators

588,910
15,477,
901

Equals: Prime Cost


Add: Factory Over Heads (FOH)
Total Factory overhead
Equals: Total Factory Cost

3,712,2
78
19,190,

179
Add: Work in Process (Opening Stock)

Equals: Cost of Goods to be Manufactured


Less: Work in Process (Closing Stock)

19,190,
179
0

Equals: Cost of Goods to be Manufactured

19,190,
179

Qus: 1
Cost of Goods Manufactured Statement

M/S Company A, B and C


Cost of goods manufactured statement
For the year ended 30 June 2014
Details
Direct Materials (Opening Stock)
Add: Purchases (Net of discount and returns)

Rupees

Rupees
0

Total raw material consumed

45,149,4
80

Direct Materials available for use


Closing Stock

45,149,4
80
0

Equals: Direct Material used


Add: Direct Labor cost
Total wages to labor for manufacturing & wages to
machine operators
Equals: Prime Cost
Add: Factory Over Heads (FOH)

45,149,
480

1,781,26
6
46,930,
746

11,256,4
69

Total Factory overhead


Equals: Total Factory Cost
Add: Work in Process (Opening Stock)

58,187,
215
0

Equals: Cost of Goods to be Manufactured


Less: Work in Process (Closing Stock)

58,187,
215
0

Equals: Cost of Goods to be Manufactured

58,187,
215

Qus: 1
Cost of Goods Sold Statement

M/S Company A
Cost of goods Sold Statement
For the year ended 30 June 2014
Details

Rupees

Rupees

Cost of goods manufactured


Add: Finished Goods (Opening Stock)

18,796,
916
0

Equals: Cost of Goods Available for Sale


Less: Finished Goods (Closing Stock)

18,796,
916
0

Equals: Cost of Goods Sold

18,796,
916

Qus: 1
Cost of Goods Sold Statement

M/S Company B
Cost of goods Sold Statement
For the year ended 30 June 2014
Details

Rupees

Rupees

Cost of goods manufactured


Add: Finished Goods (Opening Stock)

20,200,1
20
0

Equals: Cost of Goods Available for Sale


Less: Finished Goods (Closing Stock)

20,200,1
20
0

Equals: Cost of Goods Sold

20,200,
120

Qus: 1
Cost of Goods Sold Statement

M/S Company C
Cost of goods Sold Statement
For the year ended 30 June 2014
Details

Rupees

Rupees

Cost of goods manufactured


Add: Finished Goods (Opening Stock)

19,190,1
79
0

Equals: Cost of Goods Available for Sale

19,190,1
79

Less: Finished Goods (Closing Stock)

0
19,190,
179

Equals: Cost of Goods Sold

Qus: 1
Cost of Goods Sold Statement

M/S Company A, B and C


Cost of goods Sold Statement
For the year ended 30 June 2014
Details

Rupees

Rupees

Cost of goods manufactured


Add: Finished Goods (Opening Stock)

58,187,2
15
0

Equals: Cost of Goods Available for Sale


Less: Finished Goods (Closing Stock)

58,187,2
15
0

Equals: Cost of Goods Sold

58,187,
215

Marginal Income Statement:


M/S Company A
Marginal Statement
For the year ended 30 June
2014
Details
Income

Rupees

Rupees
45,000,000

Sales
Less: Variable Cost Of Sales
Total Direct Material

14,495,68
2

Total Direct Labor

522,048

Total FOH

1,887,443
16,905,17
3

Less: Closing Stock

16,905,17
3
Total Distribution

727,718

Total General Administration

513,887
18,146,778
26,853,222

Less: Fixed Expenses


Total Direct Material

Total Direct Labor

57,825

Total FOH

1,833,918
1,891,743

Total Distribution

1,329,018

Total General Administration

2,525,100
5,745,861

Net Profit

21,107,361

M/S Company B
Marginal Statement
For the year ended 30 June 2014
Details

Rupees

Income
Sales
Less: Variable Cost Of Sales

Rupees
30000000

Total Direct Material

15,764,807

Total Direct Labor

547,685

Total FOH

1,966,587
18,279,079

Less: Closing Stock

18,279,079

Total Distribution

754,057

Total General Administration

543,302
19,576,438
10,423,562

Less: Fixed Expenses


Total Direct Material

Total Direct Labor

64,798

Total FOH

1,856,243
1,921,041

Total Distribution

1,397,651

Total General Administration

2,483,257

5,801,949
Net Profit

4,621,613

M/S Company C
Marginal Statement
For the year ended 30 June 2014
Details

Rupees

Rupees

Income
Sales
Less: Variable Cost Of Sales

27500000

Total Direct Material

14,888,991

Total Direct Labor

527,564

Total FOH

1,865,414
17,281,969

Less: Closing Stock

17,281,969

Total Distribution

745,309

Total General Administration

583,363
18,610,640
8,889,360

Less: Fixed Expenses


Total Direct Material

Total Direct Labor

61,346

Total FOH

1,846,864
1,908,210

Total Distribution

1,355,069

Total General Administration

2,410,008
5,673,288

Net Profit

5,673,288
3,216,072

M/S Company A, B and C


Marginal Statement
For the year ended 30 June 2014
Details

Rupees

Rupees

Income
102,500,000.0
0

Sales
Less: Variable Cost Of Sales
Total Direct Material

45,149,480.
00

Total Direct Labor

1,597,297.0
0

Total FOH

5,719,444

Less: Closing Stock

52,466,220.
60
0
52,466,220.
60

Total Distribution

2,227,084

Total General Administration

1,640,552
56,333,856
46,166,144

Less: Fixed Expenses


Total Direct Material

Total Direct Labor

183,969

Total FOH

5,537,025
5,720,994

Total Distribution

4,081,738

Total General Administration

7,418,365

17,221,098
Net Profit

28,945,046