Accounting imfrs

Required:

Select the appropriate accounting treatment for each cost item.

Activities _ Libreoffice Writer Fri 20:41 . en BAC2634 MIDTERM TRI 2010.docx - LibreOffice Writer File Edit View Insert Format Styles Table Form Tools Window Help G . F . 82 Heading 1 Times New Rom 12 adaaaa & a&. . . S SEEE.EF FE QUESTION a) Semperit Bhd is a manufacturing business and incurred the following expenditure. To be included in the To be expensed as cost of inventories incurred Supplier's gross price for raw materials Quantity discounts allowed by supplier Purchase taxes and duties charged by supplier and recoverable from taxing authorities Continued... Page 4 of 5 (Page 2) 641 words, 4,017 characters Converted2 English (USA) Outline 1 + 100%Activities _ Libreoffice Writer Fri 20:42 . en BAC2634 MIDTERM TRI 2010.docx - LibreOffice Writer File Edit View Insert Format Styles Table Form Tools Window Help 3 6 . G . F . 82 Heading 1 Times New Rom 12 adaaaa &a.C. EEGSEEEFF EE 51 1 1 1 1 1 16 1 Costs of transporting materials to the business' premises Labour costs directly incurred in the processing of raw materials Variable costs, such as power, incurred in the processing of raw materials Fixed production costs/overheads, such as rent for the processing factory and depreciation charges on the plant used in the processing Costs of holding finished goods in inventory Costs of transporting goods to customer on sale Purchase taxes charged to customer on sale Commission payable to salesmen on sale of the goods Allowance for bad and Page 5 of 5 (Page 3) 641 words, 4,017 characters Converted2 English (USA) Outline 1 + 100%Activities _ Libreoffice Writer Fri 20:42 . en BAC2634 MIDTERM TRI 2010.docx - LibreOffice Writer File Edit View Insert Format Styles Table Form Tools Window Help G . P . 82 Heading 1 Times New Rom 12 adaaaa &aC. EEGSEEEFF EE 5 . ucpicuauon charges Un UIC plant used in the processing Costs of holding finished goods in inventory Costs of transporting goods to customer on sale Purchase taxes charged to customer on sale Commission payable to salesmen on sale of the goods Allowance for bad and doubtful debts in relation to trade receivables Costs of accounts department Head office costs relating to the overall management of the business Required: Select the appropriate accounting treatment for each cost item. Page 5 of 5 (Page 3) 641 words, 4,017 characters Converted2 English (USA) Outline 1 -O- + 100%