Answered step by step
Verified Expert Solution
Question
1 Approved Answer
& Management Accounting and Finance 2A Final OSA.pdf - Adobe Acrobat Reader (64-bit) X File Edit View Sign Window Help Home Tools Management Acco.. x
& Management Accounting and Finance 2A Final OSA.pdf - Adobe Acrobat Reader (64-bit) X File Edit View Sign Window Help Home Tools Management Acco.. x Sign In A X 1 617 Really Limited operates a cost accounting system, which is fully integrated with the financial accounts. As the chief Co management accountant of Really Limited, it is your duty to prepare the months accounting records each month. You are presented with the following information for the month of April 2019: Co R Stores ledger control account (Opening balance) 34 175 Work in progress control account (Opening balance) 49 210 Finished goods control account (Opening balance) 44 164 Material purchased on credit 86 150 Material issued to production 76 350 Material issued to factory maintenance 13 280 Material issued between batches 11 450 Selling and distribution overhead incurred 15 240 La Other production overheads incurred 37 650 to Cost of finished goods sold 129 830 Physical stock value of work in progress at the end of the month 34 360 The total overheads amount was transferred to production on the 30 April 2019. : 26.C Rain off and on O Search ENG 11:53 US 2022/11/22& Management Accounting and Finance 2A Final OSA.pdf - Adobe Acrobat Reader (64-bit) X File Edit View Sign Window Help Home Tools Management Acco... x Sign In A X 1 6/7 Q Co The total overheads amount was transferred to production on the 30 April 2019. Co Really Limited require their sales to be based on cost of sales plus 20%. Required: Prepare the following general ledger accounts for the month ended 30 April 2019: 5.1 Stores ledger control account. (3 mark) 5.2 Work in progress control account. (3 mark) 5.3 Finished goods control account. (3 mark) 5.4 Production overhead control account. (3 mark) 5.5 Profit and loss account. (3 mark) to All entries to the accounts should be rounded to the nearest whole number. Clearly show any workings supporting your answer, and accounts must be closed off. : 26 C ENG 11:53 Rain off and on Search US 2022/11/22
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