Manufacturing Accounts
Bayani Gaba-gaba
Most businesses you have studied so far buy goods and sell them again unchanged. A manufacturer is different: it takes raw material, adds labour and other costs, and makes the goods it sells. That extra activity needs an extra statement, the manufacturing account, whose single job is to work out exactly what it cost to produce the finished goods during the year. Get that figure right and the rest of the financial statements fall neatly into place.
In this lesson you will learn to tell direct costs from indirect ones, build up the prime cost and then the cost of production, and adjust for goods left half-finished at the year end. You will see how the cost of production flows into the income statement to give gross profit, and how the leftover inventories appear in the statement of financial position. Master this and you can read a factory's accounts with confidence.
Manufura
- direct and indirect costs.
- direct material, direct labour, prime cost and factory overheads.
- how to make adjustments for work in progress.
- how to calculate factory cost of production.
- how to prepare manufacturing accounts, statements of profit or loss and statements of financial position.
- how to make adjustments to financial statements as detailed in 5.1 (sole traders).
Takardar Darasi
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Nazarin Darasi
Barka da kammala darasi akan Manufacturing Accounts. Yanzu da kuka bincika mahimman raayoyi da raayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.
Za ka gamu da haɗe-haɗen nau'ikan tambayoyi, ciki har da tambayoyin zaɓi da yawa, tambayoyin gajeren amsa, da tambayoyin rubutu. Kowace tambaya an ƙirƙira ta da kyau don auna fannoni daban-daban na iliminka da ƙwarewar tunani mai zurfi.
Yi wannan ɓangaren na kimantawa a matsayin wata dama don ƙarfafa fahimtarka kan batun kuma don gano duk wani yanki da kake buƙatar ƙarin karatu. Kada ka yanke ƙauna da duk wani ƙalubale da ka fuskanta; maimakon haka, ka kallesu a matsayin damar haɓaka da ingantawa.
- Which of the following is a direct cost in a manufacturing account? A. Factory rent B. Depreciation of factory machinery C. Wages of workers who make the product D. Office salaries Answer: C
- Opening raw material inventory $8 000, purchases $50 000, carriage inwards $2 000, closing raw material inventory $6 000. What is the cost of material consumed? A. $52 000 B. $54 000 C. $56 000 D. $58 000 Answer: B
- Prime cost $164 000 and factory overheads $38 000. Opening work in progress $5 000 and closing work in progress $7 000. What is the cost of production? A. $200 000 B. $202 000 C. $204 000 D. $209 000 Answer: A
- Which item is NEVER included in a manufacturing account? A. Direct expenses B. Revenue C. Indirect factory wages D. Carriage on raw material Answer: B
- Cost of production $475 000 for 20 000 completed units. What is the cost per unit? A. $19.00 B. $23.75 C. $25.00 D. $42.10 Answer: B
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Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
Akwai a cikin manhajar Green Bridge
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Yi Aikin Tambayoyin Gwaji
Kana son yin aikin tambayoyin gwaji kan Manufacturing Accounts? Sauke manhajar Green Bridge CBT don samun tambayoyin gwaji da cikakkun jarrabawa akan wannan batu.
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