Reference no: EM132518260
The following information for the period ending June 30,2019 was taken from the books of XYZ manufacturers of furniture.
Carriage on raw materials 12,000
Opening stock:
Raw materials 40,000
Work in progress 13,000
Purchase of raw materials 160,000
Purchases returns 62,000
Production wages 47,000
Direct factory expenses 6,000
Closing stock:
Raw materials 30,000
Work in progress 21,000
Sales 350,000
Overhead:
Insurance 8,000
Salaries 28,000
Electricity 11,000
Telephone 7,500
Depreciation 12,500
Rent 15,000
Each overhead cost is apportioned on the following basis:
Factory 50%
Selling and distribution 20%
General administration 30%
Question A. Prepare the manufacturing accounting for XYZ Ltd. For the year ended June 30,2019.
Question B. Prepare the trading and profit and Loss for XYZ Ltd for the year ended June 30, 2019 (Categorize overhead cost under the appropriate headings)