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Question 6 (Marks: 35) The following information relates to a company G6 Ltd for the year ended 30 June 2020: R 503 750 Transaction totals
Question 6 (Marks: 35) The following information relates to a company G6 Ltd for the year ended 30 June 2020: R 503 750 Transaction totals for the year ended 30 June 2020 Credit purchases of raw materials Freight on raw materials purchases (on credit) Sales of finished products 99 833 11 440 000 Direct labour: 828 600 172 500 Factory wages Pension fund contributions paid by employer Medical aid paid by employer UIF contributions paid by employer 227 200 8 144 Indirect labour 500 250 Electricity : Factory 211 450 Administrative offices 127 900 82 700 Rent expense: Factory Administrative offices Telephone and fax: 105 900 Factory 111 166 Administrative offices 145 438 Insurance: 205 894 Factory Administrative offices 132 716 327 195 Selling and administrative costs Stationery 60 445 Salaries and administrative staff 488 250 49 361 Sales returns of finished products Consumables stores (indirect materials issued to the factory) Depreciation on factory machinery 144 710 180 211 Balances on 1 July 2019 R 127 894 Raw Materials inventory Work in process inventory Finished goods inventory 43 394 216 450 Balances on 30 June 2020 R 617 450 Work in process goods on hand Raw materials on hand 99 000 Finished products on hand 477 716 Required: Prepare the production cost statement, trading statement and the relevant notes for the year ended 30 June 2020
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