| # | |
|
Stock 1/1/09 |
2200 |
|
Purchases |
18000 |
|
Sales |
27000 |
|
Salaries |
1500 |
|
Rejection in doubtful debts |
500 |
|
Office expenses |
1100 |
|
Other expenses |
1300 |
|
Stock 31/12/09 |
1000 |
The total expenses is
| # | # | |
|
Debtors |
2000 | 6000 |
|
Stock |
1000 | 1300 |
|
Discount allowed |
500 | |
|
Cash received from debtors |
10000 |
Sales for the year is
The following balances was exgtracted from the books of Oluwalambe Ltd, manufacturer, on 31st December 2007
| Stock of raw materials 1 - 1 - 2007 | 8000 |
|
Purchase of raw materials |
450000 |
|
Stock of raw materials 31 - 12 - 2007 |
95000 |
|
Direct wages |
65000 |
|
Indirect wages |
28000 |
|
Depreciation on plants |
32000 |
|
Factory rent |
3500 |
|
Work in progress 1- 1- 2007 |
32500 |
|
Work in progress 31 - 12- 2007 |
37500 |
The prime cost is
The following balances was exgtracted from the books of Oluwalambe Ltd, manufacturer, on 31st December 2007
| Stock of raw materials 1 - 1 - 2007 | 8000 |
|
Purchase of raw materials |
450000 |
|
Stock of raw materials 31 - 12 - 2007 |
95000 |
|
Direct wages |
65000 |
|
Indirect wages |
28000 |
|
Depreciation on plants |
32000 |
|
Factory rent |
3500 |
|
Work in progress 1- 1- 2007 |
32500 |
|
Work in progress 31 - 12- 2007 |
37500 |
Factory overhead cost is
The following balances was extracted from the books of Oluwalambe Ltd, manufacturer, on 31st December 2007
| Stock of raw materials 1 - 1 - 2007 | 8000 |
|
Purchase of raw materials |
450000 |
|
Stock of raw materials 31 - 12 - 2007 |
95000 |
|
Direct wages |
65000 |
|
Indirect wages |
28000 |
|
Depreciation on plants |
32000 |
|
Factory rent |
3500 |
|
Work in progress 1- 1- 2007 |
32500 |
|
Work in progress 31 - 12- 2007 |
37500 |
Cost of goods produced is
