M.

Ammad ud din Malik

Mc170203425

Assignment No.1
MGT402:Cost and Management

1-Prepair Material Ladger Card by Using FIFO Method

Received Issued Balance

Date Units Units cost Amount Units Units cost Amount units Units Amount
cost

01-sep- - - - - - - 100 10 1000

2017

01-sep- 200 9 1800 - - - 100 10 1000

2017
200 9 1800

08-sep- - - - 100 10 1000

2017
100 9 900 100 9 900

12-sep- 400 11 400 - - - 100 9 900

2017
400 11 4400

20-sep- 600 12 7200 - - - 100 9 900

2017
400 11 4400

600 12 7200

30-sep- - - - 100 9 900

2017
400 11 4400 600 12 7200

Total 13400 7200 7200

M.Ammad ud din Malik
Mc170203425

Assignment No.1
MGT402:Cost and Management

2-Calculate total cost of material issued

Cost of material issued=7200

3-Calculate value of ending Inventory

Value of Ending inventory=7200

4-Calculate value of ending finished goods and cost of sales

Opening inventory =1000

Direct Material Purchase =13400

Total =14400

Less Ending Inventory =(7200)

Add Direct labour =2500

Add Direct FOH =1500

Cost of goods sold =11200

Cost of goods manafactured

Unit manufactured

11200/900=12.44 per unit

=900-500=400

Ending Finished goods

Per unit Manufactured*Ending Finishing goods

=12.44*400=4976
M.Ammad ud din Malik
Mc170203425

Assignment No.1
MGT402:Cost and Management