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The following data refer to Maximus Manufacturing Ltd for the current year:

The following data refer to Maximus Manufacturing Ltd for the current year:

                                                                                                                                                     $

SALES REVENUE

2526000

RAW MATERIAL INVENTORY, 1 JANUARY

106800

PURCHASES OF RAW MATERIAL

877200

RAW MATERIAL INVENTORY, 31 DECEMBER

70800

DIRECT LABOUR COST INCURRED

568800

SELLING AND ADMINISTRATIVE EXPENSES

322800

INDIRECT LABOUR COST INCURRED

180000

COUNCIL RATES

108000

DEPRECIATION ON FACTORY BUILDING

150000

INCOME TAX EXPENSE

30000

INDIRECT MATERIAL USED

54000

DEPRECIATION ON FACTORY EQUIPMENT

72000

INSURANCE ON FACTORY AND EQUIPMENT

48000

ELECTRICITY FOR FACTORY

84000

WORK IN PROCESS INVENTORY, 1 JANUARY

0

WORK IN PROCESS INVENTORY. 31 DECEMBER

48000

FINISHED GOODS INVENTORY, 1 JANUARY

42000

FINISHED GOODS INVENTORY, 31 DECEMBER

48000

 

Required:

Prepare Maximus Manufacturing's:

1.     Schedule of cost of goods manufactured

2.     Schedule of cost of goods sold

3.     Income statement

 

 

 

 

 

 

 

  

 

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