please open the T-account

a) Record given business events knowing that costs are classified as costs by nature.

b) Calculate (using accounts) profit or loss for the period according to the cost by nature

structure.

please write step by step cause i do not really understand how to classified as costs by nature

Thank you

Exercise 1 - modified The enterprise "Pepe" Ltd. as at 1st June 200x had the following balances of chosen accounts: - bank loans - 4 000. The following costs were incurred in June: Cost / expense Total Selling costs 100 Materials and energy used Salaries and wages Other costs by nature TOTAL 15 000 6 000 3 000 24 000 Manufacturing Administrative costs expenses 10 500 4400 4500 1 500 2 000 800 17 000 6 700 200 300 Chosen accounting operations in June: 1. Costs by nature were recorded. 2. The bank informed about calculation of interest on loans granted to the enterprise "Pepe" Ltd. The amount of the interest is 200. 3. 1 000 units of product "X" were manufactured and taken to the warehouse Manufacturing cost of one unit was calculated at $17. 4. 1 000 units of finished good "X" were sold at $20/unit with deferred payment (invoice). 5. Sold products were delivered to the purchaser. Required: a) Record given business events knowing that costs are classified as costs by nature. b) Calculate (using accounts) profit or loss for the period according to the cost by nature structure. Exercise 1 - modified The enterprise "Pepe" Ltd. as at 1st June 200x had the following balances of chosen accounts: - bank loans - 4 000. The following costs were incurred in June: Cost / expense Total Selling costs 100 Materials and energy used Salaries and wages Other costs by nature TOTAL 15 000 6 000 3 000 24 000 Manufacturing Administrative costs expenses 10 500 4400 4500 1 500 2 000 800 17 000 6 700 200 300 Chosen accounting operations in June: 1. Costs by nature were recorded. 2. The bank informed about calculation of interest on loans granted to the enterprise "Pepe" Ltd. The amount of the interest is 200. 3. 1 000 units of product "X" were manufactured and taken to the warehouse Manufacturing cost of one unit was calculated at $17. 4. 1 000 units of finished good "X" were sold at $20/unit with deferred payment (invoice). 5. Sold products were delivered to the purchaser. Required: a) Record given business events knowing that costs are classified as costs by nature. b) Calculate (using accounts) profit or loss for the period according to the cost by nature structure