Manufacturing Accounts
Gbogbo ọrọ náà
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.
Ebumnobi
- 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).
Akọmọ Ojú-ẹkọ
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ayẹwo Ẹkọ
Ekele diri gi maka imecha ihe karịrị na Manufacturing Accounts. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- 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
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Àwọn Ìwé Tó Dáa Láti Kà
Meecha Ajụjụ Ule Ọmarịcha
Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Manufacturing Accounts? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.
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