Sales = 3,000,000

Direct Materials = 60,000

Insurance,factory = 28,000

Puding 'alary Manches India Sales comme Factory stilities Indirect labor Factory machinery rent Administrative expenses Depreciation factory building Direct labor Work in process, 1/1/20 Work in process, 12/31/20 Finished goods, 1/1/20 Finished goods, 12/31/20 12.000 145.000 25.000 120.000 130,000 5.000 70,000 60.000 380,000 34.000 320,000 70,000 40,000 120,000 130.000 il v. Required You are required to prepare the following: 1. Cost of materials used Conversion cost ift. Prime cost iv. Total manufacturing cost Cost of goods manufactured schedule. vi. Cost of goods available for sale vii. Cost of goods sold viii Gross profit ix. Operating expenses Net income (30 marks) X 2 Die ma Bm 12/31/20 perty for building to manager's salary Materials purchases Indirect materials Delivery expenses Sales commissions Factory utilities Indirect labor Factory machinery rent Administrative expenses Depreciation, factory building Direct labor Work in process. 1/1/20 Work in process, 12/31/20 Finished goods, 1/1/20 Finished goods, 12/31/20 . . NO . 12.000 70,000 1.405.000 25.000 120.000 130,000 5.000 70,000 60,000 380,000 34.000 320,000 70,000 40.000 120,000 130,000 i. Required You are required to prepare the following: Cost of materials used ii. Conversion cost iii. Prime cost iv. Total manufacturing cost Cost of goods manufactured schedule. vi. Cost of goods available for sale vii. Cost of goods sold viii. Gross profit ix. Operating expenses Net income (30 marks) V. X