Scribd Logo
Upload

Welcome to Scribd!

  • 52 views

    Manufacturing Account Income Statement 20200827

    Uploaded by

    Haewon Kook

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Manufacturing Account Income Statement 20200827

    Uploaded by

    Haewon Kook
    52 views1 page

    Original Title

    Manufacturing Account Income Statement 20200827.xlsx

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    52 views1 page

    Manufacturing Account Income Statement 20200827

    Uploaded by

    Haewon Kook

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 1

    Richard Ang Manufacturing Account for year ended 31 July 2016

    Opening Inventory of Raw Materials 14800


    Purchases 207600
    Carriage Inwards 6800
    229200
    Closing Inventory of Raw Materials 16400
    Cost of Raw Materials Consumed 212800
    Direct Wages 171500
    Prime Cost 384300
    Indirect Wages 51400
    Factory Overhead 161000
    596700
    Opening Work in Progress 23500
    Closing Work in Progress 20200 3300
    Cosrtfg of Goods Manufactured 600000
    Factory Profit 20% 120000
    Transferred to the Income Statement 720000

    Richard Ang Income Statement for the year ended 31 July 2016
    Revenue 986000
    Return Inwards 12000
    974000
    Opening Inventory of Finished Goods 38400
    Transferred from Manufacturing Account 720000
    758400
    Closing Inventory of Finished Goods 54000 704400
    Gross Profit 269600
    Office Overheads 188000
    Carriage Outwards 17500
    64100
    Factory Profit 120000
    Increase in Provision for Unrealised Profit
    (54000x20/120)-(38400x20/120) 2600 117400
    Profit for the Year 181500

    You might also like