Mohkam’s incurred the following costs during 2019. Direct material used .......................................................................................... Rs.87,000,000 Direct labor .................................................................

Mohkam’s incurred the following costs during 2019.

Direct material used .......................................................................................... Rs.87,000,000

Direct labor ....................................................................................................... 162,000,000

Manufacturing overhead applied ........................................................................ 90,000,000

During 20x2, products costing $600,000 were finished, and products costing $66,000,000 were sold on

account for $97,500,000. There were no purchases of raw material during the year. The beginning balances

in the firm’s inventory accounts are as follows:

Raw material .................................................................................................... $113,500,000

Work in process ................................................................................................ 9,000,000

Finished goods ................................................................................................. 15,000,000

Required:

1. Prepare T-accounts to show the flow of costs through the company’s manufacturing accounts during

2019.

2. Prepare a partial balance sheet and a partial income statement to reflect the information given

Solutions

Expert Solution

ekkarill92 answered 1 year ago

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