Manufacturing Accounts
Akopọ
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.
Awọn Afojusun
- 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).
Akọ̀wé Ẹ̀kọ́
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
Ìdánwò Ẹ̀kọ́
Oriire fun ipari ẹkọ lori Manufacturing Accounts. Ni bayi ti o ti ṣawari naa awọn imọran bọtini ati awọn imọran, o to akoko lati fi imọ rẹ si idanwo. Ẹka yii nfunni ni ọpọlọpọ awọn adaṣe awọn ibeere ti a ṣe lati fun oye rẹ lokun ati ṣe iranlọwọ fun ọ lati ṣe iwọn oye ohun elo naa.
Iwọ yoo pade adalu awọn iru ibeere, pẹlu awọn ibeere olumulo pupọ, awọn ibeere idahun kukuru, ati awọn ibeere iwe kikọ. Gbogbo ibeere kọọkan ni a ṣe pẹlu iṣaro lati ṣe ayẹwo awọn ẹya oriṣiriṣi ti imọ rẹ ati awọn ogbon ironu pataki.
Lo ise abala yii gege bi anfaani lati mu oye re lori koko-ọrọ naa lagbara ati lati ṣe idanimọ eyikeyi agbegbe ti o le nilo afikun ikẹkọ. Maṣe jẹ ki awọn italaya eyikeyi ti o ba pade da ọ lójú; dipo, wo wọn gẹgẹ bi awọn anfaani fun idagbasoke ati ilọsiwaju.
- 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
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
Awọn Iwe Itọsọna Ti a Gba Nimọran
Ṣe Adaṣe Awọn Ibeere Idanwo Adaṣe
Ṣe o fẹ ṣe adaṣe awọn ibeere idanwo adaṣe nipa Manufacturing Accounts? Ṣe igbasilẹ ohun elo Green Bridge CBT lati wọle si awọn ibeere idanwo adaṣe ati awọn ayẹwo adaṣe kikun fun koko-ọrọ yii.
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