A/L ACCOUNTING 2021 BATCH - MANUFACTURING STATEMENT

Select the incorrect relationship

• Prime cost = Direct material Cost + Direct Labour + Direct expenses

• Manufacturing Overheads = Indirect material Cost + Indirect Labour + Indirect expenses

• Total manufacturing cost = Prime cost + Manufacturing Overheads

• Gross Profit = Sales - Cost of Production

• Net Profit = Gross profit - Non Manufacturing Overheads

In a manufacturing organization, the cost components which are exclusively used only to calculate the cost of Inventory

• Direct wages ,Carriage inwards ,Carriage Outwards, Raw Material

• Direct wages, Carriage Outwards, Storage Cost , Machinery depreciation

• Machinery depreciation, Raw Material, Carriage inwards ,Direct wages

• Carriage Outwards, Raw Material , Direct wages, Machinery depreciation

• Carriage Outwards, Raw Material, Storage Cost , Machinery depreciation

Amal Limited is a manufacturing firm.

Above given information(picture) is relevant to the month of December 2020.

What is the Prime Cost for the month of December 2020?

(a)  

Amal Limited is a manufacturing firm.

Above given information(picture) is relevant to the month of December 2020.

What is the amount that should be transferred to the trading account from the manufacturing account for the month of December 2020

(a)  

Calculate the prime cost for the year 2020 using the information given above(in the picture)

(a)  

Calculate the raw material consumed for the year 2020 using the information given above(in the picture)

(a)  

Production cost of goods is treated as assets until they are sold .

Select the correct answer from below

• Above statement is true

• Above statement is false

Fill in the blank

When the production of the goods is more towards the nature of the raw material, the work in progress stock is valued at (a)  

What is the cost of goods manufactured?

• Rs.3 000

• Rs.4 000

• Rs.5 000

• Rs.6 000

• Rs.7 000

Give an example for 'direct wages cost in a bakery'.

(a)