Question 4 The following information for the period ending June 30, 2012, was taken from the books of Beautiful Finish, manufacturers of tiles. S Carriage in on raw materials 12 000 Opening sock of raw materials 40 000 Purchase of raw materials 160 000 Purchases returns 62 000 Closing stock of raw materials 30 000 Production wages 47 000 Direct factory wages 6 000 Work in progress- July 1, 2011 13 000 Work in progress- June 30, 2012 21 000 Overhead: Insurance 8 000 Salaries 28 000 Light & power 11 000 Telephone 7 500 Depreciation 12 500 Rent 15 000 Each overhead cost is apportioned on the following basis: Factory 50% Selling & distribution 2012 General administration 30% The number of tiles done and sold during the period was 50 000 at S7 per tile. REQUIRED: Factory Selling & distribution General administration 50% 20 % 30% The number of tiles done and sold during the period was 50 000 at $7 per tile. REQUIRED: a. Prepare the Manufacturing, Trading and Profit and Loss Account for Beautiful Finish for the period ending June 30, 2012. Showing clearly: 1. Cost of raw materials consumed ii. Prime cost iii. Factory cost of goods produced iv. Selling and distribution expenses V. General administrative expenses (23 marks) b. Calculate the production cost per tile completed. (2 marks) (Total 25 marks) The Council of Community Colleges of Jamaica Page