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Prepare a statent of cost of goods manufactured and sold
Direct Material R40000
Work-in-process R80000 Finished goods R75000 The following information summarizes the manufacturing activities for March 2008: Purchased manufacturing supplies costing R11000. March 2008 wages payments were as follows: a) Direct labour R43.20 per hour R142560 b) Supervisors R23000 Material to the value of R150000 was purchased. Depreciation for the month amounted to R21000 of which R18000 relates to factory fixed assets and R3000 relates to administrative assets. Manufacturing overheads were applied at a rate of R22,00 per direct labour hour. Miscellaneous overheads of R23400 were incurred on account. The balances as at 31 March 2008: Direct material R21000 Work-in-process R85000 Finished goods R70000 Sales for the month totaled R398000 |
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