MGT402 (Cost and Management Accounting) - Important Practice Questions Lecture 1 to 5 - Part 4

MGT402 (Cost and Management Accounting) - 100% Exam/Paper Preparation - Important Practice Questions - Short Lectures - By Rare Academy of Science Email id: [email protected] Rare Academy of Science Q. 6 Total factory cost ? WIP opening 20,000 WIP closing 10,000 Finish goods opening 30,000 Finis goods closing 50,000 Cost of goods sold 190,000 Calculate total factory cost Hint: Total factory cost will be calculated through a reverse calculation. Here cost of goods sold is given this will be adjusted in reverse order for changes in finished goods inventory to get the figure of cost of goods manufactured. The cost of goods manufactured will be adjusted in reverse order for changes in work in process inventory to get the figure of total factory cost. Q. 7 Opening material inventory 10,000 Closing material inventory 5,000 Direct Labor 30,000 FOH 20,000 Total factory cost 80,000 Calculate the value of material purchased during the year. Hint: Cost of material consumed will be calculated through a reverse calculation starting from total factory cost in which factory overhead cost and direct labor cost will be added, thereafter the cost of material consumed will be adjusted in reverse order with the changes in material inventory to know the amount of material purchased during the year. #learn #shortlecture #rareacademyofscience #Rare #Academy of #Science /#Hina #Mehjabeen #important #mgt402 #mgt402practicequestions #cost&managementaccounting #accounting #cost #management #mgt402paperpreparation #exam #paper #preparation #education #trending #trend #trendingvideo #trendingnow #sale #costofgoodssold #gross #profit #percentage #percent #sta301 #sta301quiz3solutionfall2025 #fall2025 #sta301quiz3 #quiz #statisticsandprobability #statistics #cs302quiz1solution#fall #2024 #cs304 #cs304assignment1solutionfall2024 #fall #cs304assignment1solution #objectorientedprogramming #edu401 #edu401quiz3solutionspring2024 #contemporary #issues #education #trends #sta301 #sta301quiz1solutionspring2024 #statistics #probability #eco402 #eco402quiz1solutionspring2024 #microeconomics #ajax #introduction #synchronous #asynchronous #oop #php #objectorientedprogramming #class #object #constructor #variables #datatype #output #déclaration #multiple #values #forms #bootstrap #array #method #function #arrowfunction #variables #datatype #identifiers #rules #examples #javascript #array #object #link #styling #style #property #table #comment #syntax #example #webprogramming #introductiontohtml #html #tags #structure #webdevelopment #programming #website #development #html #css #langauge #assignments #lecture #mth302 #solution #timeseries #analysis #multan #vu #virtualuniversity #average #business #mathematics #quiz #module #time #statistics #vuassignment #lectures #maths #trending #trend #university #vulectures #gdb #rare #academy #science #shorts #video#principlesofmanagement #principles #management #marketing #pakistan #delegation #comment #organization #strategy #method #latestnews #latest #update #market #2023 #spring #mgt211 #business #introduction #products #customer #clientes #distribution #channel #approach #pricing #strategy #productlifecycle #expansion #job #design #theory #service #items #commodity #goods #design #motivation#education #curriculum #development #goals #source #unity #teaching #students #college #school #interview #samping #evidence #experience #learning #online #shopping #course #planning #evaluation#generalknowledge #method #concept #discover #children #knowledge #professional #practice #experiment #critical #thinking #young #weight #question #interview#criticalthinking #practice #reflective #tools #observation #solution #assessment #skills #knowledge #portfolio #experience #academic #design #documentation #visual #report #test #task #reasearch #specifications #general #result #letter #brand #style #business #approach #products #customer #architecture #humanresourcemanagement #hrmanagement #latest #law #views #traditional #power #police #manger #job #rules #competition #rewards #boss #expert #suspension #lecture #factorial #permutations #combination #time #life #combinations #permutations #probability #practicequestions #practice #question #mathematics #statistics #programming #language #learning #latest #exam #paper #examination #calsses #online #earning #mgt201 #lectures #financialaccounting #commerce #accounting #finance #normaldistribution #distribution #business #frequency#mobileapplicationdevelopment #application #mobileapplication #course #android #studio #androidstudio #hec #highereducation #bzu #bzuuniversity #bzumultan