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...