the following data relate to the financial records of bellwood ltd a manufacturer fo 611273

The following data relate to the financial records of Bellwood Ltd, a manufacturer, for the year ended 30 June 2019.

	£ Don't use plagiarized sources. Get Your Custom Essay on the following data relate to the financial records of bellwood ltd a manufacturer fo 611273 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page Order Essay
Inventory of raw materials as at 1 July 2018	15,665
Inventory of work-in-progress as at 1 July 2018	24,411
Purchases of raw materials	298,080
Direct power	11,180
Direct labour	301,500
Royalties	5,560
Supervisory wages	56,110
Factory rent	17,891
Machinery depreciation	6,600
Factory maintenance	4,513
Inventory as at 30 June 2019 was valued as follows:
Work-in-progress:	31,241
Raw materials:	14,186

The manufacturing account based on this data for the appropriate time period would appear as follows:

Bellwood Ltd Manufacturing account for year ended 30 June 2019

	£	£
Opening inventory of raw materials		15,665
Add Purchases of raw materials		298,080
		313,745
Less Closing inventory of raw materials		14,186
Cost of raw materials consumed		299,559
Direct labour		301,500
Direct power		11,180
Royalties		5,560
Prime cost		617,799
Add Indirect factory overheads:
Supervisory wages	56,110
Factory rent	17,891
Machinery depreciation	6,600
Factory maintenance	4,513	85,114
		702,913
Add Opening work-in-progress		24,411
		727,324
Less Closing work-in-progress		31,241
Production cost of goods completed		696,083