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plz help me ,its urgent ,solve question in excel file and show its working and formulas plz thanks alot. Question 2 - Total Marks 30

image text in transcribed plz help me ,its urgent ,solve question in excel file and show its working and formulas plz thanks alot.

Question 2 - Total Marks 30 EFT Limited is a manufacturing company manufacturing specialised tables. The following information is available for the company for the year ended 30 December 2020. Trial Balance extract for EFT Limited for the year ended 30th December 2020 Revenue 350,000 Returns inwards 4,200 Returns outwards 7.100 Carriage inwards 2.100 Carriage outwards 1,900 Manufacturing machinery at cost 60,000 Rent 54,000 Inventory of raw materials at 1 Jan 2020 18,200 Inventory of raw materials at 31 December 2020 21,500 Manufacturing royalties 15,200 Factory wages 66,500 Other factory overheads 35,000 Purchase of raw materials 68,500 Administration salaries 17,000 Sales department wages 30,000 Additional information: 1. Rent is to be charged 75% to the factory and 25% to the office. 2 Depreciation has not yet been charged for manufacturing machinery. EFT uses straight line depreciation for machinery at a rate of 25%. 3. Factory wages are 80% direct labour with the balance being indirect labour costs. 4. Work in progress inventory was as follows: 1 January 2020 12,100 31 December 2020 14,300 5. Finished Goods inventory was as follows: 1 January 2020 26,100 31 December 2020 28,700 a) Prepare the manufacturing account for the year ending 314 December 2020. (15.5 Marks) b) Prepare the income statement for the year ending 31st December 2020. (11.5 Marks) c) Prepare the extract from the Statement of Financial Position as at 31st December 2020. (4 Marks)

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