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A factory started activities on 1st April. i. Raw materials purchased during April = 80000 kgs. at ?12 (out of which Excise duty = ?2 per kg.). Stock on hand as on 30th April = 5000 kgs. ii. Production during April = 14000 units (of which 10000 units were sold). In addition to the production, 1000 units were lying as WIP on 30th April (100% complete as to Materials and 60% complete as to conversion). iii. Wages and Production Overheads = ?30 per completed unit. iv. Selling Price = ?110 per unit (of which Excise Duty is ?10 per unit)Value of closing stock on 30th April will be

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The syllabus (with weightage):
A. GAAP and Accounting Standards 20%
B. Accounting of Business Combinations & Restructuring 20%
C. Consolidated Financial Statements 20%
D. Developments in Financial Reporting 25%
E. Government Accounting in India 15%


A factory started activities on 1st April. i. Raw materials purchased during April = 80000 kgs. at ?12 (out of which Excise duty = ?2 per kg.). Stock on hand as on 30th April = 5000 kgs. ii. Production during April = 14000 units (of which 10000 units were sold). In addition to the production, 1000 units were lying as WIP on 30th April (100% complete as to Materials and 60% complete as to conversion). iii. Wages and Production Overheads = ?30 per completed unit. iv. Selling Price = ?110 per unit (of which Excise Duty is ?10 per unit)Value of closing stock on 30th April will be






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