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management accountingplease do it solution in detail and correctlythank you QUESTION 1 (14 MARKS) Furry Treats, a manufacturing firm for dog food, has supplied the

management accountingplease do it solution in detail and correctlythank you image text in transcribed
QUESTION 1 (14 MARKS) Furry Treats, a manufacturing firm for dog food, has supplied the following information from its accounting records for the month of June 2021: Raw materials inventory 1 June Raw materials inventory 30 June Work in process inventory 1 June Work in process inventory 30 June Finished goods inventory 1 June Finished goods inventory 30 June Purchases of raw materials Wages of assembly line workers Indirect materials Indirect labour Factory supplies Rental of premises * Utilities Distribution expenses General office expenses Sales revenue 2,500 6,540 3,180 5.200 6.250 8,150 23.090 33,500 6,010 3.750 4,600 8,500 3,400 8,600 4,500 160,000 * Expenses to be apportioned: 60% to factory and 20% to selling and 20% to administrative 1 Required: (a) A Statement of cost of goods manufactured for June 2021, showing clearly the details of the costs. (7 marks) (b) A properly classified Income statement for June 2021, showing clearly the details of the costs. (7 marks)

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