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 Folders Evaluation of RASHMI 's Homework #1, P1 Nov-Feb:17-18 batch: Score -100%, In
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 Deleted Items 110 Dear RASHMI ,

ACAMS

Archive Thank you for completing the homework on Cost Flow in production process  and going through the class notes
CMA - Gleim in P1, CMA.

Conversation History In order to calculate Raw Materials Consumed/used (RMC), Cost of Goods manufactured during the year(COGM)
HDFC Sales-COS) for a given period, we need to have the opening and closing balances of Raw Material, work-in-Progre

HDFC ALERTS In your Budgeting class #1, we have discussed how Purchases during the year influences the RMC, Raw Materials
IMA that has an opening and closing balance (in unit terms and as well as in dollar value).

IPFC RMC (in $)= RMop in $+ Purchase during the period in $ - RMcl in $
IPFC - HW          =1680 + 30000 -1260 = $30,420

IPFC - MOCK          Your answer for this question is 30420 which is Correct. Well done!
IPFC - WB
The above equation is also true for number of units too.
IPFC Class Invitation

IPFC Videos - Files

RMC (in units = RMop(units) + Purchases in units during the period - RMcl(units)
MILLENNIUM                        =1200+20000-900 = 20,300
SBT
         Your answer for this question is 20300 which is Correct. Thank you!

This RMC is consumed by the production process. Production process is represented by the Work-in-Process dyn
Direct labor (DL) and Manufacturing Overheads (MOH) to make the cooking for final production. Unfortunately, it
RMC and leaves some closing WIP at the end of the year. The Buildup with WIPop, RMC, DL and MOH is the exten
manufacturing of finished goods. You are given the WIPcl at the end of the period. Reduce it from the extent of c
during the period, in dollar value (COGM).

Cost of Gods Manufactured during the year (COGM) = WIPop +RMC+Direct Labor consumed by production proc
Overheads (MOH) consumed by the production process during the year - Closing WIP 
                                                                                     = 2000 WIPop+30,420+0 DL + 0 MOH - 4000 WIPcl = $28,4

      Your answer for this question is 28420 which is Correct! This is superb.

Please note that RMC+DL+MOH is called manufacturing cost. So, if you are asked to calculate the manufacturing
but the RMC figure. RMC is different from purchase - appreciate it.

We have had a basket of Finished Goods at the beginning of the period represented at its cost of production in th
represented in the problem. The fresh production during the year falls on this basket (COGM or units produced).
is known as FG available during the year. We have closing Finished goods figure at the end of the year. When we
have what left the finished goods basket during the year. This is the sales in units and its corresponding dollar val

Units Sold during the year = FGop in units + Units Manufactured during the year - FGcl in units
                                           =1800+13500-2400 = 12900 units

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