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It is due is less than 2 mins Question 1 The following information was extracted from the books of BXM Manufacturers Ltd, a small Benoni-based
It is due is less than 2 mins
Question 1 The following information was extracted from the books of BXM Manufacturers Ltd, a small Benoni-based company that specializes in the manufacture and sale of vehicle ball bearings: Inventory at cost: 01/06/2020 31/05/2021 Direct material R15 000 R4 500 Work-in-progress R13 650 R21 000 Finished goods R12 000 R18 000 The following additional costs were incurred during the year Direct material purchased Total labour costs Depreciation (80% factory) Security (45% factory) Water and electricity (60% factory) Salary of supervisor (50% factory) Freight on sales Maintenance (70% factory) R 35 000 Additional information: 50 000 As a result of damages in transit, 10% of the material purchased was returned to the supplier. 15 000 30 000 11. The total labour costs should be split between direct and indirect labour in the ratio of 3:2. 10 0001). The factory normally uses indirect material that is equal to 20% of the value of direct material 25 000 used 5 000 Required: 12 000 Prepare the statement of cost of goods manufactured and sold for BXM Manufacturers Ltd for the year ended 31 May 2021Step by Step Solution
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