From the following data construct a manufacturing account for the year ended 31 December 2015.
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from the following data construct a manufacturing account for the year ended 31 dece 611277
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Purchases of raw materials |
89,500 |
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Opening inventory: |
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Raw materials |
12,450 |
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Work-in-progress |
43,100 |
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Carriage inwards |
875 |
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Returns outwards |
2,190 |
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Labour costs: |
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Factory supervisors |
29,000 |
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Manufacturing wages |
87500 |
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Depreciation of factory equipment |
5,600 |
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Rent |
18,000 |
Additional information:
1Rent is to be apportioned between factory overheads and office expenses in a 3:1 ratio.
2Inventory as at 31 December 2015 was as follows:
aRaw materials £15,650
bWork-in-progress £38,700.
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