WorksheetsA/L ACCOUNTING 2021 BATCH - MANUFACTURING STATEMENT
Total questions: 20
Worksheet time: 32mins
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)
Calculate the cost of raw material purchased using the above information.
(a)
How much is the production overheads?
(a)
Which of the below mentioned cost items incurred in a manufacturing firm would be classified as direct cost
A- Wages paid to employees based on the number of units manufactured
B- Monthly salary paid to the production manager
C- Transport cost incurred in bringing the raw material in to the factory
D- Depreciation of the machine used in the factory
A & B only
A & C only
B & C only
A , B & D only
A , B & C only
What was the cost of sales for the period before considering the above additional information?
Rs.1 250 000
Rs.1 300 000
Rs.1 350 000
Rs.1 400 000
Rs.1 500 000
What was the manufacturing cost for the period after considering the above additional information?
Rs.1 330 000
Rs.1 390 000
Rs.1 400 000
Rs.1 410 000
Rs.1 470 000
What is the gross profit earned during the month?
(a)
Which of the following equation does not represent the Total cost?
Total cost = Product cost + Non manufacturing cost
Total cost = Manufacturing cost + Non manufacturing cost
Total cost = Prime cost + Total overhead cost
Total cost = Direct cost + Indirect cost
Total cost = Manufacturing cost + Total overhead cost
Which of the following cost items of a furniture manufacturing organization can be categorized as components of prime cost?
Wages of carpenters
Electricity charges of the factory
Cost of wood used
Depreciation of machinery
Production Manager's salary
What is the Journal entry followed in transferring factory finished goods to the sales division?
(a)
The prime cost and the total production cost of a manufacturing business for the year ending 31.03.2019 were Rs.900 000 and Rs.1 600 000 respectively.
The work-in-progress inventories, which were measured at production cost as at 31.032018 and 31.03.2019 were Rs.200 000 and Rs.330 000 respectively.
What is the production overheads for the year ending 31.03.2019?
Rs.570 000
Rs.700 000
Rs.830 000
Rs.900 000
Rs.1 030 000
