www.vustudents.ning.com

 www.bit.ly/vucodes + Link For Assignments, GDBs & Online Quizzes Solution www.bit.ly/papersvu + Link For Past Papers, Solved MCQs, Short Notes & More

# COST AND MANAGEMENT ACCOUNTING (MGT402) ASSIGNMENT NO. 01

Learning Objectives:
After going through this assignment, the students should be able to prepare:
•Store ledger card under inventory valuation method of first in first out (FIFO)
•cost of goods sold statement
Assignment Question
On February 1st, XYZ Company had 200 gallons of material in store at Rs. 40.00 per gallon.
Following information has been extracted from books of the company for inventory records during
February.
February 5
: purchased 900 gallons @ Rs. 50 per gallon.
February 9: issued 600 gallons to job #20
February 11: Returned to supplier 100 gallons purchased on February 5.
February 27
: Purchased 150 gallons @ Rs. 200 per gallon.
During the same period 1,000 direct labor hours incurred in factory. Direct labour was Rs. 20,000 and factory
overhead applied rate was Rs. 50 per direct labour hour. Actual factory overhead for the period was Rs. 70,500.
Month-end inventories of finished goods and work in process were Rs. 13,000 and Rs.12,000 respectively. There
was no beginning inventory.
Required:
Prepare Material Ledger Card under FIFO costing method and Cost of Goods Sold Statement for the month of
February.

+ http://bit.ly/vucodes (Link for Assignments, GDBs & Online Quizzes Solution)

+ http://bit.ly/papersvu (Link for Past Papers, Solved MCQs, Short Notes & More)

Views: 1182

### Replies to This Discussion

Our main purpose here discussion not just Solution

Students having same subject can start discussion here to solve assignment, GDB & Quiz and can clear their concepts until solution is provided.

P.S:    Please always try to add the discussion in proper format title like “CS101 Assignment / GDB No 01 Solution & Discussion Due Date: ___________”

Then copy Questions from assignment file and paste in Discussion.

http://bit.ly/vucodes (For Assignments, GDBs & Online Quizzes Solution)

http://bit.ly/papersvu (For Past Papers, Solved MCQs, Short Notes & More)

MGT101 GDB Solution Fall 2020

kindly upload assignment solution mgt402 idea or discussion here

Exactly right

I also need , plz anyone upload MGT402 assignment soloution

MGT402-Assignment#01-Idea-Solution-Fall-2020

MGT402-Assignment#01-Idea-Solution-Fall-2020

Sir iska second part bhe upload kr dein

MGT 402-ASSIGNMENT-SOLUTION-2020

MGT402 Cost & Management Accounting Assignment 1 Fall 2020

Solution:

 Materials Ledger Card FIFO Method XYZ Company Date Received Issued Balance units units Cost Amount Unit Unit Cost Amount Units Units Cots Amount Rs. Rs. Rs. 1st Feb 200 40 8000 5-Feb 900 50 45000 200 40 8000 900 50 45000 9-Feb 200 40 8000 400 50 20000 500 50 25000 11-Feb 100 50 5000 400 40 16000 27-fef 150 200 30000 400 40 16000 150 200 30000 Closing Stock of 550 gallons of Rs. 46000

Correct Solution MGT402 Assignment by Khalid Masood

Click below

Correct Solution MGT402 Assignment by Khalid Masood

# MGT402-COST & MANAGEMENT ACCOUNTING-ASSIGNMENT Solution 2020

1

2

3

4

5

## Latest Activity

3 minutes ago
4 minutes ago
Muhammad Zeeshan Fayyaz and Salaar joined Virtual University of Pakistan
47 minutes ago
48 minutes ago
48 minutes ago
+ M.Tariq Malik added a discussion to the group PSY632 Theory & Practice of Counseling

### PSY632 Theory & Practice of Counseling Assignment No 02 Fall 2020 Solution / Discussion

50 minutes ago
56 minutes ago
Muniba shahid, H@di_a and 2 other members joined + M.Tariq Malik's group

### CS411 Visual Programming

56 minutes ago
Saba Shahzadi joined + M.Tariq Malik's group

1 hour ago
1 hour ago