ACC512: Management Accounting for Costs & Control – David and FOL
Question 1 Cost of Manufacturing Statement David has asked for a Cost of Goods Manufacturing Statement and Income Statement for the month of July. Use the following information taken from the books that David has been keeping to prepare the statement. Advertising expense 5,000 Interest expense 5,000 Sales travel expense 1,530 Machinery maintenance 250 Depreciation – factory machinery 1,600 Office Salaries 5,000 Depreciation – office machinery 600 Rates – factory 1,400 Direct Labour 6,000 Raw materials inventory 1/7/19 4,800 Factory power 150 Raw materials inventory 31/7/19 5,200 Factory rent 9,195 Raw materials purchases 53,200 Factory supplies 4,800 Sales revenue 158,500 Finished goods 1/7/19 11,200 Sales salaries 4,780 Finished goods 31/7/19 10,500 Telephone 500 Freight inwards materials 730 Work in process 1/7/19…
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