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mgt101 GDB-2 part-1

RAW MATERIAL            20000

PURCHASE                  100000

                                  60000

FRIGHT                          1000

-----------------------------------

COST OF GOOD CONS   181000

DIRECT LABOUR            50000                             181000+   80000= 261000

FACTORY O/H              211000                              261000-50000=211000

=============================

FACTORY/CONV COST    261000

is this correct??????

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koe perfect solution do ???????????????????????????

Conversion Cost: 80,000
+Direct Labor Cost: 50,000
+Factory Overhead: 70,000
Total Factory Cost: 3,81,000



ye wrong hy because conversion cost = direct labor + FOH hoti hy

Solution:
1. Cost of material Consumed:
Opening Inventory 20000
+ Purchase 160000
+ Freight in 1000 161000
Total Material Consumed 181000

1. Total Factory Cost:
Material 181000
+ Direct labor 50000
+ FOH (80000-50000) 30000
Total Factory Cost 261000

1. F.O.H Cost:

F.O.H = Consumed – Direct labor
= 80000 - 50000
= 30000
F.O.H Cost = 30000

Please Discuss here about this GDB.Thanks

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tariq sir ap e correct solution post kr den plzzz

hello friends Mirza galib k solution 100% theak hai

han je tiq bola ap ne :)

part 2 k solution solve kiya k nahi

There is no impact on total factory cost determined by the Home Comfort if we use last in first out (LIFO) method. Because there is no closing inventory so there is no effect to total factory cost. If there is closing stock present in there then LIFO will affect it.

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