1 2 (c) The following list of costs have been extracted from the records of a manufacturing company for the year ending

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1 2 C The Following List Of Costs Have Been Extracted From The Records Of A Manufacturing Company For The Year Ending 1 (42.81 KiB) Viewed 22 times

1 2 (c) The following list of costs have been extracted from the records of a manufacturing company for the year ending 31st December, 2020. You are required to prepare a statement of cost showing: (a) Cost of raw materials consumed (b) Prime Cost (c) Factory Cost (d) Cost of production (e) Cost of goods sold (f) Total cost of goods sold and profit on sales [8 marks] Description of Cost Stock of Raw Materials (1-1-2020) Stock of Raw Materials (31-12-2020) 3 Purchases of Raw materials 5 6 Description of Cost 11 Experiment expenses 2,400 12 Wastage of materials 14,000 13 Factory overhead 1,000 14 Establishment on costs. 7 8 Manufacturing wages 9 Other direct expenses 10 Indirect wages (d) Wakalinga Co. Ltd must choose bet Tsh (000) 3,000 Stock of work-in-progress (1-1-2020) Stock of work-in-progress (31-12-2020) 800 Carriage inward 500 4,000 200 1,000 Tsh (000) 400 50 7.000 2,000 4.000 1,000 1,200 15 Selling overhead 16 Distribution overhead 17 Stock of finished goods (1-1-2020) 18 Stock of finished goods (31-12-2020) 3,000 19 sales 40,000 -Aime Setting 7 to Over T/S