Jean's an things is a factory which makes term clothing. At the end of the accounting year December 32 2009. the following information was available Stock as January 1 2009 Raw materials $33500 Work in Progress $7300 Finished Good $82770 Rent &rates $12300 Machinery at cost $500000 Administrative expenses $25230 Factory wages $135000 Factory salaries $72500 Selling and distribution expense $43820 Purchase of raw materials $247300 Carriage inwards on raw material $1500 Return Outwards $3000 Carriage outwards $1000 Factory insurance $15000 Sales $725650 Stocks at December 31 2009 Raw Materials $13220 Work in Progress $6900 Finished Goods $95240 The following information is provided 1. Machinery is to be depreciate at 25% per annually. 2. Tent and rates are to be shared equally between office and factory 3.Factory insurance is prepaid to March 2010 monthly premiums $1000 Prepare a manufacturing Account for the year ended December 31, 2009 showing clearly . The cost of raw materials consumed . The prime cost .Factory overheads Then prepare the income statement for the year ended December 31, 2009
Jean's an things is a factory which makes term clothing. At the end of the accounting year December 32 2009. the following information was available
Stock as January 1 2009
Raw materials $33500
Work in Progress $7300
Finished Good $82770
Rent &rates $12300
Machinery at cost $500000
Administrative expenses $25230
Factory wages $135000
Factory salaries $72500
Selling and distribution expense $43820
Purchase of raw materials $247300
Carriage inwards on raw material $1500
Return Outwards $3000
Carriage outwards $1000
Factory insurance $15000
Sales $725650
Stocks at December 31 2009
Raw Materials $13220
Work in Progress $6900
Finished Goods $95240
The following information is provided
1. Machinery is to be depreciate at 25% per annually.
2. Tent and rates are to be shared equally between office and factory
3.Factory insurance is prepaid to March 2010 monthly premiums $1000
Prepare a manufacturing Account for the year ended December 31, 2009 showing clearly
. The cost of raw materials consumed
. The prime cost
.Factory
Then prepare the income statement for the year ended December 31, 2009
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