Smart Manufacturing Systems Pty Ltds accountant recently prepared the following data from the companys accounting records for

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Smart Manufacturing Systems Pty Ltd’s accountant recently prepared the following data from the company’s accounting records for the year ended 30 June 2019.

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Factory overhead is applied at the rate of 240% of direct labour cost.
Required

(a) Prepare a cost of goods manufactured statement for the year ended 30 June 2019.

(b) What was the company’s cost of sales for the year ended 30 June 2019?

(c) What was the company’s gross profit for the year ended 30 June 2019?

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Accounting

ISBN: 9780730363224

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Beattie Claire, Hellmann Andreas, Maxfield Jodie

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