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Twin Ltd. uses JIT and back flush accounting. It does not use a raw material stock control account. During September 2018, 10000 units were produced and sold. The standard cost per unit is 150 which includes materials of 60. During September 2018, 9,90,000 of conversion costs were incurred. The debit balance in cost of goods sold account for September 2018 was

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Syllabus (with weightage)
A. Cost Management 20%
B. Strategic Cost Management Tools and Techniques 50%
C. Strategic Cost Management - Application of Statistical Techniques in Business Decisions 30%

Related Test: CMA Intermediate Exam: Cost and Management Accounting


Twin Ltd. uses JIT and back flush accounting. It does not use a raw material stock control account. During September 2018, 10000 units were produced and sold. The standard cost per unit is 150 which includes materials of 60. During September 2018, 9,90,000 of conversion costs were incurred. The debit balance in cost of goods sold account for September 2018 was






 
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