type in a table TUTORIAL: Manufacturing Account The following are the balances o

Question

type in a table

TUTORIAL: Manufacturing Account The following are the balances of T Jackson for the yoar ended 31 December 2011 RM Stock at 1 January 2011 Raw materials Work in Progress Finished goods 18,450 23,600 17,470 St At 64.300 Purchases : Rew materials Carriage on raw materials Direct Labour Office salaries Rent Office lighting & heating 1,605 65,810 16,920 2,700 5.760 8,300 Depreciation: Works machinery Office equipment 1,950 200,600 Sales Factory Fuel and power Rent is to be apportioned Factory 2/3; Office 1/3 Stocks at 31 December 2011 were 5,920 Raw materials Work in Progress Finished goods 20,210 17,390 21,485 PREPARE A Manufeuing, radingand prft and lo aeout fo he ear ended st December 2011.

Explanation / Answer

Solution :

  Manufacturing Account of T Jackson for the year ended 31 December 2011

Amount (RM)

To Raw Material Consumed

Opening Stock 18450

Add : Purchase 64300

Less : Closing Stock 20210

62,510

By Cost Of Production

(Transfered to Trading Account)

Working Note : 1 - Rent to be apportioned to the Factory

Total Rent RM 2700 Apportioned to Factory 2/3

Factory Rent = 2700 x 2/3 = RM 1800

Trading and Profit and Loss Account of T Jackson for the year ended 31 December 2011

Rent Apportioned to Office : 1800x1/3 = RM 900

Particulars

Amount (RM)

Particulars Amounts(RM) To Work in progress(Opening) 23,600 By Work in Progress (Closing) 17,390

To Raw Material Consumed

Opening Stock 18450

Add : Purchase 64300

Less : Closing Stock 20210

62,510

By Cost Of Production

(Transfered to Trading Account)

1,52,155 To Carriage on Raw Materials 1,605 To Direct labour 65,810 To Rent 1,800 To Depreciation (Works machinery) 8,300 To Factory Fuel and Power 5,920 1,69,545 1,69,545

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