Managerial Accounting MBA 4th Roll No.

MBL-18-16

Assignment No. 2
Exercise # 2.4
CyberGames
Income Statement
For the period ended on______
$ $
Sales 1450000
Less CGS
Opening Stock 240000
Add Purchases 950000
cost of good availble for sale 1190000
less closing stock 170000
Cost of good sold 1020000
Gross profit 430000
Less Selling & Admin expenses
Sellings expenses 210000
Administrative expenses 180000 210000
Net Income 220000

Exercise # 2.5
Lompac
Cost of Good Manufactured Statement
For the period ended on______
Direct Material cost $ $
Opening raw material inv. 60000
Add: Purchases of raw material 690000
cost of raw mat. availble for use 750000
Less: Closing raw mat. Inventory 45000
Direct Material cost 705000
Add: Direct labour cost 135000
Prime cost 840000
Add: Manufacturing overhead 370000
Manufacturing cost 1210000
Add: W.I.P Opening inv. 120000
cost of goods to be manufactured 1330000
Less: W.I.P Closing inv. 130000
Cost of good manufactured 1200000
Managerial Accounting MBA 4th Roll No. MBL-18-16

Exercise # 2.5
Req. 1
Mason Company
Cost of Good Manufactured Statement
For the period ended on______
Direct Material cost $ $
Opening raw material inv. 7000
Add: Purchases of raw material 118000
cost of raw mat. availble for use 125000
Less: Closing raw mat. Inventory 15000
Direct Material cost 110000
Add: Direct labour cost 70000
Prime cost 180000
Add: Manufacturing overhead 80000
Manufacturing cost 260000
Add: W.I.P Opening inv. 10000
cost of goods to be manufactured 270000
Less: W.I.P Closing inv. 5000
Cost of good manufactured 265000

Req 2.

Mason Company
Cost of Good sold Statement
For the period ended on______
Direct Material cost $ $
Opening raw material inv. 7000
Add: Purchases of raw material 118000
cost of raw mat. availble for use 125000
Less: Closing raw mat. Inventory 15000
Direct Material cost 110000
Add: Direct labour cost 70000
Prime cost 180000
Add: Manufacturing overhead 80000
Manufacturing cost 260000
Add: W.I.P Opening inv. 10000
cost of goods to be manufactured 270000
Less: W.I.P Closing inv. 5000
Cost of good manufactured 265000
Add: Finished good opening inv. 20000
Cost of good availble for sale 285000
Less: Finished goods closing inv. 35000
Cost of good sold 320000
Managerial Accounting MBA 4th Roll No. MBL-18-16

problem 2.16
Req. 1
Swift Company
Cost of Good Manufactured Statement
For the month ended on August 31
Direct Material cost $ $
Opening raw material inv. 8000
Add: Purchases of raw material 165000
cost of raw mat. availble for use 173000
Less: Closing raw mat. Inventory 13000
Direct Material cost 160000
Add: Direct labour cost 70000
Prime cost 230000
Add: Manufacturing overhead 85000
Manufacturing cost 315000
Add: W.I.P Opening inv. 16000
cost of goods to be manufactured 331000
Less: W.I.P Closing inv. 21000
Cost of good manufactured 310000
Add: Finished goods opening inv. 40000
Cost of good availble for sale 350000
Less: Finished goods closing inv. 60000
Cost of goods sold 290000

Req 2.

Swift Company
Income Statement
For the month ended on August 31
$ $
Sales 450000
Less: Cost of good sold 290000
Gross profit 160000
Less: Selling & Admin expenses 142000
Net income 18000

Req 3. On the base of our finding in the Req 1 & 2 we recommended company need no buyer.