Izzara enterprise manufactures jeans. It is the financial year-end for the business, and you havebeen contacted to prepare Izzara's year-end accounts. The bookkeeper provides you with thefollowing extraction of Izzara's accounts.ItemsDepreciation - plant and machineryDepreciation-office buildingOpening inventories:Raw materialsWork-in-progressFinished goodsPurchase of raw materialsElectricity and powerBookkeepers' salariesProduction wagesIndirect labourRent and ratesRepairs to plantAdditional information:RM60,00025,00042,00028,00046,000516,00042,00034,000118,00026,00042,00018,0001. Closing inventories at 31 December 2023.2.Raw materialsWork-in-progressFinished goodsRM50,00022.00052,00075% of rent and rates and 80% of electricity and power relate to the factory.Required:a)Compute total prime cost.b)Calculate total manufacturing cost.(5 marks)(5 marks)

Answer:a) Total prime cost = Direct materials + Direct labor = Opening inventories of raw materials…

Answered: Izzara enterprise manufactures jeans.…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter6: Work Sheet And Adjusting Entries For A Service Business

Section: Chapter Questions

Problem 1AP

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