Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hey, I'm trying to look for the solution of this question but I can't tend to find it because of the changes in the data
Hey, I'm trying to look for the solution of this question but I can't tend to find it because of the changes in the data infromation given from other questions. If you could please solve this question. And provide your working out and follow the template . Thanks
Question 2 (20 marks) ABC Manufacturing Systems Pty Ltd provides the following information. Administrative salaries Advertising expense Direct labour Factory depreciation Finished goods, 1 July 2020 Finished goods, 30 June 2021 Income tax expense Indirect labour Material inventorv. 1 July 2020 Material inventorv. 30 June 2021 Material purchased Sales Work in process. 1 July 2020 Work in process, 30 June 2021 Freight Inward $ 20,000 12,000 45,000 16,000 20.000 18,000 22,000 25.000 40.000 38.000 36.000 208.000 15.000 14,000 400 Required (a) Calculate cost of goods manufactured for the period ending 30 June 2021. (15 marks) (b) Calculate cost of sales for the period ending 30 June 2021. (5 marks) Answer (a) COGM (b) COS Working
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