PROBLEM 11. Prepare the Cost Sheet to show the total cost of production and cost per unit of goods manufactured by a company for the month of July, 2006. Also find the cost of sales and profit. 2$ Stock of Raw Materials, 1-7-2006 Raw Materials purchased Stock of Raw Materials, 31-7-2006 Mar.ufacturing Wages Depreciation on Plant Loss on sale of a part of Plant Factory Rent and Rates 3,000 Office Rent 28,000 General Expenses 4,500 Discount on Sales 7,000 Advertisement Expenses to be charged fully 600 1,500 Income Tax Paid 300 Sales 3,000 500 400 300 2,000 50,000 The number of units produced during July, 2006 was 3,000. The stock of finished goods was 200 and 400 units on 1-7-2006 and 31-7-2006 respectively. The total cost of the units on hand on 1-7-2006 was $. 2,800. All these had been sold during the month.

PROBLEM 11. Prepare the Cost Sheet to show the total cost of production and cost per unit of goods manufactured by a company for the month of July, 2006. Also find the cost of sales and profit. 2$ Stock of Raw Materials, 1-7-2006 Raw Materials purchased Stock of Raw Materials, 31-7-2006 Mar.ufacturing Wages Depreciation on Plant Loss on sale of a part of Plant Factory Rent and Rates 3,000 Office Rent 28,000 General Expenses 4,500 Discount on Sales 7,000 Advertisement Expenses to be charged fully 600 1,500 Income Tax Paid 300 Sales 3,000 500 400 300 2,000 50,000 The number of units produced during July, 2006 was 3,000. The stock of finished goods was 200 and 400 units on 1-7-2006 and 31-7-2006 respectively. The total cost of the units on hand on 1-7-2006 was $. 2,800. All these had been sold during the month.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 10.10E: Amounts for materials Big Timber Furniture Company manufactures furniture. Big Timber Furniture uses...

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Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $465,100 $581,380 Work in process 837,180 790,680 Finished goods 804,620 808,120 Advertising expense $394,760 Depreciation expense-office equipment 55,810 Depreciation expense-factory equipment 75,000 Direct labor 895,330 Heat, light, and power-factory 29,650 Indirect labor 104,650 Materials purchased 877,880 Office salaries expense 306,390 Property taxes-factory 24,420 Property taxes-headquarters building 50,580 Rent expense-factory 41,280 Sales 4,110,360 Sales salaries expense 504,640 Supplies-factory 20,350 Miscellaneous costs-factory 12,790 Required: 1. Prepare the statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December…
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Problem 1Classify the following as to Fixed, Variable or Mixed Cost1. Factory Rent2. Wages of workers paid based on units produced3. Cost Accountant Salary4. Depreciation based on output5. Salary of Factory supervisor6. Basic Salary plus sales commission of salesman7. Paper in manufacturing of books8. Factory Insurance9. Monthly Depreciation of Building10. Bottle used in packaging
Subject: Cost management & accounting QUESTION – 6**Following information relates to commodity ‘ A ‘ of a manufacturing concern for their one month operations:Stock of Materials- Ending Rs. 31,400 Stock of Materials- Beg. Rs. 24,000Material purchases 92,500 Carriage and Cartage Outward 2,150Carriage and Cartage Inward 3,575 Drawing office Salaries 3,250Counting House Salaries 6,300 Cash Discount Allowed 1,450Bad Debts written off 3,250 Repair of Plant 2,225Rent, Rates & Maintenance-Factory 4,250 Sales 230,500Rent, Rates, & Maintenance-Office 1,000 Travelling Expenses 1,050Traveller Salaries & Commission 3,850 Production Wages 63,000Depreciation- Machinery 3,250 Depreciation- Office Furniture 150Director’s Fee 3,000 Energy and Gas – Factory 600Managers Salary (¾ Factory- ¼ Office) 5,000 Energy and Gas – Office 200General Expenses –…