Multiple Choice Questions on Calculate Value of closing stock of Finished goods Cost of production Rs 1 00 000 Units produced dur........... for Punjab Government (Allied) Exams Preparation

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Multiple Choice Questions

Calculate Value of closing stock of Finished goods Cost of production Rs 1 00 000 Units produced dur...........

Costing ( Revenue Account ) Overview of Cost and Management Accounting
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    Calculate Value of closing stock of Finished goods:

    Cost of production: Rs. 1,00,000/-

    Units produced during the year:10,000 units

    Units of closing stock of finished goods: 500 units

    Rs 5,000/-

    Correct Answer

    Rs. 50,000/-

    Incorrect Answer

    Rs. 10,000

    Incorrect Answer

    None of the above

    Incorrect Answer
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    Explanation:

    Value of Closing Stock of Finished Goods=

    Cost of Production (Rs.)      (x)  Units of Closing Stock of Finished Goods

         Units Produced

    In given problem, value of closing stock of finished goods =

       1,00,000      (x)  500  = 5,000/-

       10,000

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