Here is the trial balance as at 30 June 20x4, and other information relating to Peninsula Manufacturing Ltd.

Notes

1. Raw material on hand at 30 June 20x4 with a cost R10 400, of which material that cost R400 was damaged in store and has no value.

2. Work-in-progress at 30 June 20x4 was valued at R4 100.

3. 18 000 units were manufactured during the year and transferred from factory to warehouse.

– At inventory count on 30 June 20x4, a shortage of 100 units was discovered.

– Finished goods inventory is valued on the FIFO basis.

4. Depreciation on furniture and fittings is at 5% per annum. on cost.

5. Depreciation on plant is at 15% per annum on the reducing-balance method.

6. Loose tools inventory at 30 June 20x4 was valued at R1 800.

You are required to:

Prepare the statement of the cost of goods manufactured and trading account for the year ended 30 June 20x4. (statement of profit or loss & other comprehensive income and statement of financial position not required.)

Transcribed Image Text:

Appropriation account at 30 June 20x3 Bad debts and allowance for bad debts Bank Accounts payable Accounts receivable Directors' fees Factory general expenses Factory rent Factory power and water Furniture and fittings (office and warehouse) at cost 30 June 20x3 Furniture and fittings depreciation provision at 30 June 20x3 Indirect factory wages Loose tools at 30 June 20x3 Plant (factory) at cost at 30 June 20x3 Plant depreciation provisions at 30 June 20x3 Production wages - direct Purchases: Loose tools Raw material Sale (20 000 units) Share capital, authorised and issued R1 shares Inventory of finished goods at 30 June 20x3 (4 000 units) less provision for unearned profit Inventory of raw material at 30 June 20x3 Work-in-progress at 30 June 20x3 2 000 00 10 560 00 58 665 00 1 500 00 4 675 00 6 000 00 1 600 00 3 000 00 1 800 00 2 200 00 40 000 00 32 000 00 800 00 41 000 00 18 000 00 9 500 00 2 500 00 00 235 800 6 100 00 1 900 00 12 000 00 1 300 00 14 500 00 150 000 00 50 000 00 235 800 00