please help me Suka Tenis Group manufactured 100,000 tennis rackets in 2022 and reported thefollowing costs:RMSandpaperRM384,000224,00032,000 Leasing costs-plant320,000 Depreciation-equipmentProperty taxes-Materials handling22,400 equipment32,00016,000Coolants & lubricantsIndirect manufacturing labourDirect manufacturing labourDirect materials, 1 January20223,136,000275,200 Fire insurance-equipment2,176,000 Direct material purchasesDirect materials, 31December 2022384,000275,200Finished goods, 1 January2022672,000 Sales revenue12,800,000Finished goods, 31December 20221,280,000 Sales commissions640,000Work-in-process, 1 January202296,000 Sales salaries576,000Work-in-process, 31December 2022480,00064,000 Advertising costs800,000Administration costsRequired:h) Calculate(iv) the cost of goods sold for 2022.

Cost of goods sold means the cost incurred on the manufacturing or purchase of goods which has been…

Suka Tenis Group manufactured 100,000 tennis rackets in 2022 and reported the following costs: RM RM 384,000 Sandpaper 32,000 Leasing costs-plant Depreciation-equipment Materials handling 320,000 224,000 Property taxes- 22,400 equipment 32,000 275,200 Fire insurance-equipment 16,000 Coolants & lubricants Indirect manufacturing labour Direct manufacturing labour Direct materials, 1 January 2022 2,176,000 3,136,000 Direct material purchases Direct materials, 31 December 2022 384,000 275,200 Finished goods, 1 January 2022 672,000 Sales revenue 12,800,000 Finished goods, 31 December 2022 1,280,000 Sales commissions 640,000 Work-in-process, 1 January 2022 96,000 Sales salaries 576,000 Work-in-process, 31 December 2022 480,000 64,000 Advertising costs 800,000 Administration costs Required: h) Calculate (iv) the cost of goods sold for 2022.

Suka Tenis Group manufactured 100,000 tennis rackets in 2022 and reported the following costs: RM RM 384,000 Sandpaper 32,000 Leasing costs-plant Depreciation-equipment Materials handling 320,000 224,000 Property taxes- 22,400 equipment 32,000 275,200 Fire insurance-equipment 16,000 Coolants & lubricants Indirect manufacturing labour Direct manufacturing labour Direct materials, 1 January 2022 2,176,000 3,136,000 Direct material purchases Direct materials, 31 December 2022 384,000 275,200 Finished goods, 1 January 2022 672,000 Sales revenue 12,800,000 Finished goods, 31 December 2022 1,280,000 Sales commissions 640,000 Work-in-process, 1 January 2022 96,000 Sales salaries 576,000 Work-in-process, 31 December 2022 480,000 64,000 Advertising costs 800,000 Administration costs Required: h) Calculate (iv) the cost of goods sold for 2022.

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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