Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Greenleaf Ltd., a manufacturing company, has provided the following details for the six months ended 30 June, 2021. $ 125,000 80,000 4,000 5,500 Balances in
Greenleaf Ltd., a manufacturing company, has provided the following details for the six months ended 30 June, 2021. $ 125,000 80,000 4,000 5,500 Balances in the ledger at 31 December 2020 included: Finished Goods Inventory Direct Materials Inventory Indirect Materials Inventory Work in process Inventory Transactions during the six months ended 30 June 2021: Sales Purchases direct materials Freight inwards - Direct materials Direct wages paid Supervisor's salary_ Indirect materials purchased Factory Insurance Factory rates Other factory expenses Additional information Accrued direct wages Depreciation on factory plant Physical stocktake at 30 June 2021:- Direct material inventory on hand Finished goods inventory on hand Indirect material inventory on hand Work in process inventory on hand 4,890,000 910,000 2,600 610,500 45,000 12,000 6,000 15,400 398,000 ca 5002 10,000 2 84,000 130,000 3,500 6,000 Required: (a) Prepare a Cost of Goods Manufactured Statement for the six months ended 30 June, 2021 (18 marks) (b) Prepare an Income Statement for the six months ended 30 June, 2021 (4 marks) (TASK3 (a GREENLEAF LTD Cost of Goods Manufactured Statement For the six months Ended 30 June 20214 S S ) ( ( ) ) ( ( T. ) ) ) ) ) ( 1 1 ' ( ( ) ) ( ( ( ) T. ( ) L L TASK 3 (b) GREENLEAF LTD Income Statement For the six months Ended 30 June 20214 $ s qqqqq qqqqqqq q ,,,, CCCC CC C D E C D E )
Step 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