| Manufacturing Accounts - W.Ex 2 (apportionment) | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | SOLUTION |
|---|---|---|---|---|---|
| Chesterton PLC | |||||
| Manufacturing Account for the year ended 31 March Year 7 | |||||
| £ | £ | ||||
| Raw Materials Cost | |||||
| Opening Inventory | 17500 | ||||
| Add Purchases | 95600 | ||||
| Less Purchases Returns | 0 | 95600 | |||
| 113100 | |||||
| Add Carriage In | 0 | ||||
| 113100 | |||||
| Less Closing Inventory | 13200 | ||||
| COST OF RAW MATERIALS CONSUMED | 99900 | ||||
| Add Direct Costs | |||||
| Wages and Salaries - Factory Direct | 138500 | 138500 | |||
| PRIME COST OF MANUACTURE | 238400 | ||||
| Add Factory Overheads | |||||
| Wages and Salaries - Factory Indirect | 27200 | ||||
| Power and Fuel (18260+390) | 18650 | ||||
| Insurance (3680-240=3440x5/8) | 2150 | ||||
| Depn - Machinery (20%x82000) | 16400 | 64400 | |||
| 302800 | |||||
| Add Inventory - Work in Progress at Start | 15270 | ||||
| 318070 | |||||
| Less Inventory - Work in Progress at End | 15700 | ||||
| FACTORY COST OF PRODUCTION | 302370 | ||||
| Chesterton PLC | |||||
| Income Statement for the year ended 31 March Year 7 | |||||
| £ | £ | £ | |||
| Sales Revenue | 410400 | ||||
| Less Sales Returns | 5200 | ||||
| Net Sales Revenue | 405200 | ||||
| Less Cost of Sales | |||||
| Opening Inventory - FG | 24800 | ||||
| Add Factory Cost of Production | 302370 | ||||
| 327170 | |||||
| Add Purchases - FG | 0 | ||||
| Less Purchases Returns - FG | 0 | 0 | |||
| 327170 | |||||
| Add Carriage In - FG | 0 | ||||
| 327170 | |||||
| Less Closing Inventory - FG | 14600 | ||||
| COST OF SALES | 312570 | ||||
| GROSS PROFIT | 92630 | ||||
| Less Expenses | |||||
| Insurance (3680-240=3440x3/8) | 1290 | ||||
| 1290 | |||||
| 91340 | |||||
| Add Other Income | |||||
| 0 | |||||
| PROFIT FOR THE YEAR | 91340 |