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Question 40 Chapter 1 VK Publications Class 12 Part 2 – 2021

Question 40 - CH-1 Solution
Question 40 - CH-1 Solution

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Question 40 Chapter 1 VK Publications Class 12 Part 2 – 2021

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40 Calculate Cost of Material Consumed from the following information:

  Rs.
Opening Inventory :Material68,750
 Finished Goods31,250
Material purchased 2,81,250
Closing Inventory :Material56,250
 Finished Goods18,750

The solution of Question 40 Chapter 1 VK Publications Class 12 Part 2: –

Cost of material consumed =Opening inventory of material + Purcharse of Material -Closing inventory of materials
 = 68,750 + 2,81,250 – 56,250
  = 2,93,750.

Note: Opening inventory of finished goods Rs. 31,250 and Closing Inventory of finished goods Rs.18,750 will be considered while calculating Inventories (changes in Inventories of finished goods).

Financial Statements of a Company and Its formats

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

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T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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