- 2 3 C The Following List Of Costs Have Been Extracted From The Records Of A Manufacturing Company For The Year Ending 1 (424.01 KiB) Viewed 64 times
2 3 (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 5 Stock of Raw Materials (1-1-2020) Stock of Raw Materials (31-12-2020) Purchases of Raw materials Stock of work-in-progress (1-1-2020), Stock of work-in-progress (31-12-2020 7 Carriage inward 8 Manufacturing wages 9Other direct expenses 10 Indirect wages Description of Cost Experiment expenses Wastage of materials 3,000 2.400 12 14,000 13 Factory overhead 1,000 800 500 4,000 2,000 4,000 1,000 14 Establishment on costs. 15 Selling overhead 16 Distribution overhead 17 Stock of finished goods (1-1-2020) 18 Stock of finished goods (31-12-2020) 3,000 10 sales two types of transformers. A and B Data for