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Solution Lekor Sdn Bhd manufacturing account (1).docx -...

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LEKOR SDN BHDManufacturing account for the year ended 30 June 2018RMRMDirect materialOpening inventories of raw materials880Purchase of raw material66,600Add:Carriage inwards of raw materials5,450Less: Return outwards of raw materials(383)Cost of raw material available72,547Less: Closing inventories of raw materials(568)Cost of raw materials used71,979Direct labourFactory wages25,600Direct expensesHire of special machine2,300PRIME COST99,879Production overheadIndirect material2,720Repair of machinery545W & E (1,200 + 280) X 70%1,036Insurance (1,420 X 60%)852Motor Vehicle expenses (1,260 X50%)630Depreciation of P&M7,530Depreciation of MV (12,960 X 50%)6,48019,793PRODUCTION COST119,672Add: Opening inventories WIP-Less: Closing inventories WIP-PRODUCTION COST OF COMPLETED GOODS119,672Add: Factory profit (15% X119,672)17,951MARKET VALUE OF COMPLETED GOODS137,6231
LEKOR SDN BHDStatement of Profit or Loss for the year ended 30 June 2018
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Term
Summer
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NoProfessor
Tags
Generally Accepted Accounting Principles, raw material, Supply chain management terms

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