( I need all the three parts solution as per provided templated below) Zebra Pro
ID: 2520694 • Letter: #
Question
( I need all the three parts solution as per provided templated below)
Zebra Productions presents you with the following data for the month of March 2014.
$
Purchases 42 300
Direct labor cost 10 000
Cost of goods sold 61 000
Manufacturing overheads 15 000
Inventory accounts showed the following opening and closing balances:
1stMarch
$
31st March
$
Direct materials
7,000
7,400
Work-in-procss
9,600
13,000
Finished goods
15,000
17,500
Other expenses for the month were:
Selling expenses $4,100
General and administrative expenses $2,900
Sales for the month were $82,000
Required: 8marks
Prepare Manufacturing Statement for the month ending 31st March
Trading Account for the month.
Profit & Loss Statement for the same month.
Manufacturing statement:
Zebra Production’s Manufacturing Statement for month ended 31st March 2014
$
$
Raw materials inventory
Purchases
Total materials available
Less: Raw Materials Inventory
Cost of raw materials consumed
Cost of direct labour
Cost of manufacturing overhead
Total Cost charged into production
Add: Work-in-Process Inventory
Less: Work-in-Process Inventory
Cost of goods manufactured
b) Trading statement:
Zebra Productions Trading Statement for month ended 31st March 2014
$
$
Sales
Less: Cost of goods sold:
Gross profit from sales
c) Profit and loss statement:
Zebra Productions Profit and Loss Statement for month ended 31st March 2014
$
$
Sales
Less: Cost of goods sold
Gross profit from sales
Less: Operating expenses
Selling expenses
General and administrative expenses
Net operating profit
( I need all the three parts solution as per provided templated below)
Zebra Productions presents you with the following data for the month of March 2014.
$
Purchases 42 300
Direct labor cost 10 000
Cost of goods sold 61 000
Manufacturing overheads 15 000
Inventory accounts showed the following opening and closing balances:
1stMarch
$
31st March
$
Direct materials
7,000
7,400
Work-in-procss
9,600
13,000
Finished goods
15,000
17,500
Other expenses for the month were:
Selling expenses $4,100
General and administrative expenses $2,900
Sales for the month were $82,000
Required: 8marks
Prepare Manufacturing Statement for the month ending 31st March
Trading Account for the month.
Profit & Loss Statement for the same month.
Manufacturing statement:
Zebra Production’s Manufacturing Statement for month ended 31st March 2014
$
$
Raw materials inventory
Purchases
Total materials available
Less: Raw Materials Inventory
Cost of raw materials consumed
Cost of direct labour
Cost of manufacturing overhead
Total Cost charged into production
Add: Work-in-Process Inventory
Less: Work-in-Process Inventory
Cost of goods manufactured
b) Trading statement:
Zebra Productions Trading Statement for month ended 31st March 2014
$
$
Sales
Less: Cost of goods sold:
Gross profit from sales
c) Profit and loss statement:
Zebra Productions Profit and Loss Statement for month ended 31st March 2014
$
$
Sales
Less: Cost of goods sold
Gross profit from sales
Less: Operating expenses
Selling expenses
General and administrative expenses
Net operating profit
Explanation / Answer
a) Manufacturing statement
b) Trading statement
c) Profit and loss staement
Zebra Productions Manufacturing Statement For the month ended 31st March 2014 $ $ Raw materials inventory 7,000 Purchases 42,300 Total raw materials available 49,300 Less:raw material inventory 7,400 Cost of raw material consumed 41,900 Cost of direct labor 10,000 Cost of manufacturing overhead 15,000 Total cost charged to production 66,900 Add: work in progress inventory 9,600 Less: work in progress invneotry 13,000 Cost of goods manufactured 63,500Related Questions
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