Disregard the writing. Can you prepare the manufacturing account for the year 31 January 2014 showing the prime cost and cost of production.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Disregard the writing. Can you prepare the manufacturing account for the year 31 January 2014 showing the prime cost and cost of production.
$
Stock at 1 January 2013:
- Raw Materials
55 500
Work in progress
53 800
Purchases – raw materials
108 520
Returns – raw materials
10 950
Rent +9 00-y9.400
39 800
Repairs 400 -
Insurance premium -\200
38 600
అంద : 7/o/ksa
14 200
Production wages
70 000
Workshop equipment (at cost)
259 800
Provision for depreciation - Workshop equipment
99 800
Telephone
-11,600
12 600
Factory supervision
32 000
Discount received
11 000
10 250
Discounts allowed
ADDITIONAL INFORMATION:
Amounts prepaid were Insurance $1 200 and Telephone $i 000.
Amounts outstanding were Rent $9 600 and Repairs $2 400.
Stock of raw materials at 31 January were $38 000.
60% of insurance premium relates to factory, 40% relates to office.
75% of repairs relates to factory, 25% relates to office.
80% of rent relates to factory, 20% to office.
Telephone is to be apportioned evenly between factory and office.
Depreciation of equipment is $51 960.
Closing stock $12 500
(1)
(8)
(9)
-factory
20 75O
Transcribed Image Text:$ Stock at 1 January 2013: - Raw Materials 55 500 Work in progress 53 800 Purchases – raw materials 108 520 Returns – raw materials 10 950 Rent +9 00-y9.400 39 800 Repairs 400 - Insurance premium -\200 38 600 అంద : 7/o/ksa 14 200 Production wages 70 000 Workshop equipment (at cost) 259 800 Provision for depreciation - Workshop equipment 99 800 Telephone -11,600 12 600 Factory supervision 32 000 Discount received 11 000 10 250 Discounts allowed ADDITIONAL INFORMATION: Amounts prepaid were Insurance $1 200 and Telephone $i 000. Amounts outstanding were Rent $9 600 and Repairs $2 400. Stock of raw materials at 31 January were $38 000. 60% of insurance premium relates to factory, 40% relates to office. 75% of repairs relates to factory, 25% relates to office. 80% of rent relates to factory, 20% to office. Telephone is to be apportioned evenly between factory and office. Depreciation of equipment is $51 960. Closing stock $12 500 (1) (8) (9) -factory 20 75O
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