Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer?

EduRev

All Courses

Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity

Open App

CA Foundation Exam > CA Foundation Questions > Considering the following information, answer...

Join the Discussion on the App

Considering the following information, answer the question given below:

During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.

The manufacturing cost of finished goods sold was:

a)
Rs. 1,91,700
b)
Rs. 1,92,500
c)
Rs. 1,94,000
d)
Rs. 1,93,300.

Correct answer is option 'D'. Can you explain this answer?

FREE This question is part of

Test: Final Accounts Of Manufacturing Entities - 1

Attempt Test

Attempt this Test

Most Upvoted Answer

Considering the following information, answer the question given below...

The cost of finished goods is obtained by taking the cost of raw material consumed plus direct cost and factory overhead, according to this question, we are going to add all of the figure so as to acquire cost of finished goods

Answered by Freedom Institute · View profile

Free Test

FREE

Test: Final Accounts Of Manufacturing Entities - 1
30 Ques | 30 Min

Start Free Test

View all free CA Foundation tests

Community Answer

Considering the following information, answer the question given below...

Given Data:

Stock of Raw Materials (1st January): Rs. 17,400
Stock of Raw Materials (31st December): Rs. 18,100
Stock of Work-in-Progress (1st January): Rs. 11,200
Stock of Work-in-Progress (31st December): Rs. 11,400
Stock of Finished Goods (1st January): Rs. 41,500
Stock of Finished Goods (31st December): Rs. 40,700
Manufacturing Overhead Expenses: Rs. 61,100
Manufacturing Wages: Rs. 40,400
Purchase of Raw Materials: Rs. 91,900

Calculations:

Calculate Total Raw Material Consumed: Raw Material Consumed = Opening Stock of Raw Materials + Purchases − Closing Stock of Raw Materials
Raw Material Consumed = 17,400 + 91,900 − 18,100 = Rs.91,200
Calculate Total Cost of Goods Manufactured: Total Cost of Goods Manufactured = Raw Material Consumed + Manufacturing Wages + Manufacturing Overhead + Work-in-Progress (Start) − Work-in-Progress (End)
Total Cost of Goods Manufactured = 91,200 + 40,400 + 61,100 + 11,200 − 11,400 = Rs.1,92,500
Calculate the Cost of Finished Goods Sold: Cost of Finished Goods Sold = Total Cost of Goods Manufactured + Opening Stock of Finished Goods − Closing Stock of Finished Goods
Cost of Finished Goods Sold = 1,92,500 + 41,500 − 40,700 = Rs.1,93,300

The manufacturing cost of finished goods sold was Rs. 1,93,300, which corresponds to Option D: Rs. 1,93,300.

Share via Whatsapp

Attention CA Foundation Students!

To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.

Quantitative Aptitude for CA Foundation

Principles and Practice of Accounting

Business Laws for CA Foundation

Business Economics for CA Foundation

View all answers Start learning for free

< Previous Question Next Question >

Explore Courses for CA Foundation exam

Similar CA Foundation Doubts

Considering the following information, answer the question given below: During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses. The manufacturing cost of finished goods produced were

View answer

Considering the following information, answer the question given below: During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses. The cost of raw materials consumed, issued and used were

View answer

From the following information Rs. Value of stock on 1.4.2016 7,00,000 Purchases during the period from 1.4.2016 to 31.3.2017 34,60,000 Manufacturing expenses during the above period 7,00,000 Sales during the same period 52,20,000 At the time of valuing stock on 31.3.2016 a sum of Rs. 60,000 was written off a particular item which was originally purchased for Rs. 2,00,000 and was sold for Rs. 1,60,000. But for the above transaction the gross profit earned during the year was 25% on cost.?

View answer

The profit and loss account of Himanshu Rana profit of Rs.60,000 after considering the closing stock of Rs.37,500 on 31 March 2019 subsequently the following information was obtained from scrutiny of the foyer book 1st purchase for the year included Rs.1500 paid for new electric waiting for the shop second him and gave away but valued at Rs.4000 as the temple for which no entry was made in the books of account third invoice for goods amount into Rs.25,000 have been entered on 37 March 2019 but the goods were included in stock “in March 2019 goods of Rs.20,000 sold and delivered well taken in the sun for April 2019 good Cottington thousand find it where is it on sale of written in March 2019 at margin of profit of 33.30?

View answer

In manufacturing a product 1000 kg of raw materials at 8 rupees 8 per kg bare supplied to a process other expenses on this process fair as follows labour cost is equal to rupees 2000 and production expenses equal to rupees 1000 normal loss has been estimated at 10% which could be sold at rupees 10 per kg the actual output in this process w 880 kg?

View answer

Top Courses for CA FoundationView all

Quantitative Aptitude for CA Foundation

Principles and Practice of Accounting

Business Laws for CA Foundation

Business Economics for CA Foundation

Mock Tests & Past Year Papers for CA Foundation

Top Courses for CA Foundation

View all

Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer?

Share with a Friend

Answer this doubt

Question Description
Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer?.

Solutions for Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

Here you can find the meaning of Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Considering the following information, answer the question given below:During the year manufacturing overhead expenses amounted to Rs. 61,100, manufacturing wages to Rs. 40,400 and purchase of raw materials to Rs. 91,900. There were no other direct expenses.The manufacturing cost of finished goods sold was:a)Rs. 1,91,700b)Rs. 1,92,500c)Rs. 1,94,000d)Rs. 1,93,300.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.

Explore Courses for CA Foundation exam