Could you please help me on solvingQuestion 21 Banca Lusitano on attached file ? fast reply is very much appreciated: thanks

Managerial Accounting GMBA 2015 1. Introduction to management and cost accounting (sessions 1 and 2) Question Question Question Question 1 2 3 4 - - - - Metalex, Ltd. Southern Sporting Company Seaside Minerals General Electric, Safeway and Google 2. Alternative cost accumulation systems (sessions 3 and 4) Question 5 - North Winery, Ltd. Question 6 - Industrial Company 3. Cost-volume-profit analysis (sessions 5 and 6) Question 7 - WalkWear Company Question 8 - Hamburg Concessions 4. Measuring relevant costs and revenues for decision-making (sessions 7 to 10) Question Question Question Question Question Question Question Question 9 - Gamex, Ltd. 10 - Gate Ltd. 11 - Plastex, Ltd. and Electomex, Ltd. 12 - OnlyBoats, Ltd. 13 - Even Ltd. 14 - PennsulAIR 15 - Southwestern Company 16 - Maria Salvador, Ltd. 5. Product costing: issues and problems (sessions 11 and 12) Question 17 - Movex, Corp. Question 18 - Grimoak, Corp. 6. Activity-Based Costing (sessions 13 and 14) Question 19 - Supermercado da Estrela Question 20 - TekSound, Ltd. Question 21 - Banco Lusitano Managerial Accounting (GMBA) I. E. Business School Question 1 The following information has been taken from the accounting records of Metalex, Ltd.: Sales 1,350,000 Selling expenses 108,000 Purchases of raw materials (650,000 units) 325,000 Direct labour cost 341,000 Utilities (factory) 80,000 Depreciation (factory) 115,000 Insurance (factory) 10,000 Maintenance (factory) 55,000 Indirect labour 100,000 Administrative expenses 85,500 Financial expenses 57,500 Stocks 1 January Raw materials 50,000 units x 0.45 Work in process 31 December 80,000 units 26,500 27,500 150,000 units x 2 Finish goods 130,000 units Assuming production was 500,000 units and the company uses the LIFO method for valuing movement of materials and finish goods: 1. Prepare a schedule of cost of goods manufactured; 2. Compute the cost of goods sold; 3. Prepare the profit and loss account. 2 Managerial Accounting (GMBA) I. E. Business School Question 2 Last year, Southern Sporting Company manufactured 100,000 units and reported the following information (in Euros): Sandpaper Materials handling Coolants & lubricants Indirect manufacturing labour Direct manufacturing labour Direct materials, 1/Jan Direct materials, 31/Dec Finished goods, 1/Jan Finished goods, 31/Dec Work-in-process, 1/Jan Work-in-process, 31/Dec 32,000 320,000 22,400 275,200 2,176,000 384,000 275,200 672,000 1,280,000 96,000 64,000 Leasing costs plant Depreciation equipment Property taxes equipment Fire insurance equipment Direct material purchases Financial costs Sales revenue Sales commissions Sales salaries Advertising costs Administration costs Required: 1. What is cost of goods manufactured? 2. Prepare the profit and loss account. 3 384,000 224,000 32,000 20,000 3,136,000 25,000 12,800,000 640,000 572,000 480,000 800,000 Managerial Accounting (GMBA) I. E. Business School Question 3 (Adapted from Horngren et al. (2012) - \"Cost Accounting: A Managerial Emphasis\