Answered step by step
Verified Expert Solution
Question
1 Approved Answer
accounting help ASAP please Firmino Factory manufactures soccer gloves to cater the soccer industry in Malaysia:. Cost incurred during the year ended 30 June 2022:
accounting help ASAP please
Firmino Factory manufactures soccer gloves to cater the soccer industry in Malaysia:. Cost incurred during the year ended 30 June 2022: Building (30% used by office) Building rental Depreciation of building Factory equipment Depreciation of factory equipment Depreciation of office furniture Direct Material purchases Factory insurance Indirect material (20% of cost of direct material used) Labour cost (75% direct) Other manufacturing overheads Sales Selling & administrative expense Following are the balance of inventories on Raw Material Work in process Finished Goods 1 July 2021 55,000 65,000 45,000 800,000 120,000 90,000 180,000 20,000 30,000 700,000 80,000 400,000 70,000 1,500,000 85,000 30 June 2020 40,000 50,000 48,000 Required: a. Prepare the schedule of cost of goods manufactured for the year ended 30 June 2022. (Note: Show all necessary workings) b. Prepare the schedule of cost of goods sold for the year ended 30 June 2022Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started