1- Prepare a Manufacturing account for the year ended 31 December 2017 2- Prepare a Trading account for the year ended 31 December 2017 RM 1 January 2017, Stock of raw materials 31 December 2017, Stock of raw materials 1 January 2017, Work in progress 31 December 2017, Work in progress 800 1,050 350 420 Year to 31 December 2017: Wages : Direct : Indirect 3,960 2,550 Purchase of raw material 8,700 Fuel and power Direct expenses Lubricants 990 140 300 Carriage inwards on raw materials Rent of factory Depreciation of factory plant & machinery Internal transport expenses Insurance of factory buildings and plant General factory expenses 1 January 2017, Stock of finished goods 31 December 2017, Stock of finished goods Sales of finished goods 200 720 420 180 150 330 3,500 4,400 25,000

1- Prepare a Manufacturing account for the year ended 31 December 2017 2- Prepare a Trading account for the year ended 31 December 2017 RM 1 January 2017, Stock of raw materials 31 December 2017, Stock of raw materials 1 January 2017, Work in progress 31 December 2017, Work in progress 800 1,050 350 420 Year to 31 December 2017: Wages : Direct : Indirect 3,960 2,550 Purchase of raw material 8,700 Fuel and power Direct expenses Lubricants 990 140 300 Carriage inwards on raw materials Rent of factory Depreciation of factory plant & machinery Internal transport expenses Insurance of factory buildings and plant General factory expenses 1 January 2017, Stock of finished goods 31 December 2017, Stock of finished goods Sales of finished goods 200 720 420 180 150 330 3,500 4,400 25,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Find the cost of production for the manufacturers account
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Selected information regarding a company's most recent quarter follows (all data in thousands). Beginning work in process inventory Cost of goods manufactured Direct materials used Direct labor Ending work in process inventory What was manufacturing overhead for the quarter? OA. $180 B. $500 C. $150 D. $780 $280 $650 $220 $120 $150
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CCOUNTING Section3 Lecture (20201_020113 Courses / COST ACCOUNTING Section3 Lecture (20201 020113101 AAUP - JENIN)/ 23 February-1 Ma Time left 01740 The following infiormation pertains to a manufacturing company which uses weighted average method: Work in process, beginning direct materials $550,000 and conversion $450,000, Costs added in current period, direct materials $650,000 and conversion S750,000 cost per equivaient unit, direct materials $200 and conversion $300. Using weighted average method, the equlvalent units of materials is Oa 8000 units b.6000 units OC4500 units d.5333 units Oear my choice Next page Jump to chapter 15+15 powe point -
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