Homework Answers
| Manufacturing and trading account | ||
| Pariculars | Total cost in Rs. | |
| opening stock of direct raw-materials | 3150000 | |
| add: direct purchases | 16936000 | |
| add: carriage inward | 195000 | |
| less: closing stock of direct raw-materials | 2370000 | |
| add: direct Labour | 24930000 | |
| Prime Cost | 42841000 | |
| ADD: factory overhead | ||
| Electricity and water | 828000 | |
| Other production Overheads | 4980000 | |
| indirect Labour | 4970000 | |
| add: opening stock of work in progress | 2745000 | |
| less: closing stock of work in progress | 2820000 | 10703000 |
| Factory Cost | 53544000 | |
| add: office and administrative overheads | ||
| Administrative staff salaries and wages | 4123000 | |
| Other Administrative Expenses | 2565000 | |
| Depreciation and repair of office Equipments | 950000 | |
| Depriciation on Plant and machinery | 1200000 | |
| Electricity and water | 207000 | 9045000 |
| Cost of Production | 62589000 | |
| add: opening stock of finished goods | 4470000 | |
| less: closing stock of finished goods | 2625000 | 1845000 |
| Cost of Goods Sold | 64434000 | |
| add: selling and distribution overheads | ||
| carriage outward | 896000 | |
| Sales commission | 1512000 | 2408000 |
| Cost of Sales | 66842000 | |
| Profit | 10438000 | |
| Sales | 77280000 | |
Note:-It is assumed that the electricity arrears are included in electricity expenses given and this figure will be shown ( arrears in electricity) in Balance sheet as current liability . if taken otherwise , the cost will be increased in cost sheet by arrears amount
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Question 4 The following information is supplied by the bookkeeper...
plz solve step by step Question 6 On 30 April 2002, the following balances were extracted...
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Question 6 On 30 April 2002, the following balances were extracted from the books of Wilson Manufacturing Company: 9,890,400 4,372,000 58.000 83.840 Sales Purchases of raw materials Carriage inwards Carriage outwards Stocks, 1 May 2001 Raw materials Work in progress Finished goods Plant and machinery, at cost Office equipment, at cost 225,522 30,180 194,500 980,000 385,000 395,250 134,400 Rent and rates Electricity and water Wages and salaries Direct labour Indirect labour Administrative staff Repairs to...
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please solve EXERCISES Question 1 Tictac Ltd. Manufactured and sold sports shoes. It had also decided...
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Prepare a manufacturing account and income statement from the follow balances.Balances of W. Miller for the...
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please solve this step by step previous year stock 1 may 2000 please consider this previous...
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previous year stock 1 may 2000 please consider this
previous stock
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Q3. Manufactring Company. Kaluwax Ltd. Manufacturers have one product which it sells to the wholesale trade. The following trial balance was extracted from the books of the company at 30 April 2001. Sh. Sh. Stocks at 1 May 2000: Raw material, at cost 350,000 Work in progress, at...
Question 4 (13 marks) Coral Artworks Ltd has supplied the following information to its new management...
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5 Selected account balances of Miller Inc. as at 31 December 2015 are given in TABLE...
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Question 6 On 30 April 2002, the following balances were extracted from the books of Wilson Manufacturing Company: 9,890,400 4,372,000 58.000 83.840 Sales Purchases of raw materials Carriage inwards Carriage outwards Stocks, 1 May 2001 Raw materials Work in progress Finished goods Plant and machinery, at cost Office equipment, at cost 225,522 30,180 194,500 980,000 385,000 395,250 134,400 Rent and rates Electricity and water Wages and salaries Direct labour Indirect labour Administrative staff Repairs to...
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EXERCISES Question 1 Tictac Ltd. Manufactured and sold sports shoes. It had also decided to import genuine leather shoes to meet the needs of the local consumers. The following balances were extracted from the books on 31 December 1990: Carriage inwards: shoes imported 62,300 Carriage outwards 6,500 Electricity 5,600 Factory expenses 44,000 Manufacturing wages 137,500 Office expenses 19,700 Office furniture and fixtures at cost 121,000 Opening stocks: Finished goods at cost 52,300 Work in progress at cost 23,800...
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PROBLEMS Q1. Manufacturing sole trader. Kimeu retired from Jambo Plastics in February 2009 and started his own business on 30 April 2009. His enterprise, known as Kimeu Plastics manufactures one product which it sells to the wholesale trade. The following trial balance was extracted from the books of the enterprise as at 30 April 2010 Sh. Sh. 350.000 1,800,000 3,500,000 3,950,000 18,000,000 3,000,000 1,400,000 655,000 6000000 Inventories as at 1 May 2009: Raw materials, at...
please solve this step by step
previous year stock 1 may 2000 please consider this
previous stock
dear expert can u please tell me about what nèed more
information you required? thanks
Q3. Manufactring Company. Kaluwax Ltd. Manufacturers have one product which it sells to the wholesale trade. The following trial balance was extracted from the books of the company at 30 April 2001. Sh. Sh. Stocks at 1 May 2000: Raw material, at cost 350,000 Work in progress, at...
Question 4 (13 marks) Coral Artworks Ltd has supplied the following information to its new management accountant for the month of March: Account Beginning Balances Ending Balances Raw Materials $21,000 $36,000 WIP $25,000 $53,600 Finished Goods $30,000 $64,000 1. Overhead is applied on the basis of $6 per direct labour hour (16,000 DL hours incurred). 2. Jobs sold during the period were sold for $500,000. The cost of goods sold during the month was $300,000. 3. Indirect materials worth $6,500...
5 Selected account balances of Miller Inc. as at 31 December 2015 are given in TABLE Q5 TABLE Q5: Account balances RM 3,000 2,000 7.200 4,200 Lubricants used Carriage inwards on raw materials Factory rent Depreciation of factory plant and machinery Internal transport expenses (for factory) Insurance of factory buildings and plant General factory expenses Purchase of raw materials Fuel and power 1,800 1,500 3,300 Direct expenses Direct wages Indirect wages Opening stock of raw materials Opening stock of work...
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