Manufacturing Statement Exercise

by Falakiko Asisi Pouhila
(Nukualofa, Tonga)

Select the relevant information and prepare a fully classified manufacturing statement OR cost of production of Samiu Manufacturers Ltd.

Given below are the ledger balances of Samiu Manufacturers Ltd. as at 31st December, 2012:

General Ledger Account:
Purchase of Raw Material - 320,000
Sales of Plyboard - 900,000
Factory Power Heating and Lighting - 68,000
Officer Salaries - 80,000
Direct Labour - 538,000
Freight Inward - 32,000
Workshop Repairs and Maintenance - 33,000
Selling and Distribution Expenses - 10,000
Factory Security, Insurance and Sudry Expenses - 36,000
Depreciation - Office Furntiure - 12,000
Depreciation Expenses - Eqipment - 48,000
Interest Expenses - Term Loan - 11,000
Indirect Labour - Factory - 76,000

Balance at January 2012:
Stock of Raw Materials - 98,000
Work-in-Progress - 132,000
Finished Work - 290,000
Additional Information
Raw Materials on Hand at cost - 148,000
Work-in-Progress amounted - 168,000
Indirect labour owing - 10,000

Required:
Prepare a fully classified manufacturing statement OR cost of production of Samiu Manufatures Ltd.

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