The following data refer to Nani's Fashions for the current year:

Sales Revenues $475,000 Work in process inventory, 31 December15,000 Work in process inventory, 1 January20,000 Selling and administrative expenses75,000 Income tax expense45,000 Purchase of raw materials90,000 Raw materials inventory, 31 December12,500

Raw material inventory. 1 January20,000 Direct labour100,000 Electricity: plant20,000 Depreciation plant and equipment30,000 Finished goods inventory, 31 December25,000 Finished goods inventory, 1 January10,000

Indirect material5,000 Indirect labour7,500 Other manufacturing overhead40,000

Required: a) Prepare the schedule of cost of goods manufactured for Nani's fashion. (3 marks) b) Prepare the schedule of cost of goods sold for Nani's Fashions and explain the information provided by the schedule of cost of goods sold. (4 marks) c) Prepare an income statement for the current year. (3 marks)

Week 2 Brisbane Indoor Sports, a sporting complex, has opening hours that fluctuate from month to month. The electricity costs and hours of operation for past six months is listed below:

Month Total hours of operation Total electricity cost January 650 $ 4,240 February 700 $ 4,400 March 800 $ 4,800 April 600 $ 4,200 May 550 $ 3,700 June 500 $ 3,600

Required: a) Use the high-low method to estimate the cost behaviour for the complex's electricity costs, assuming that the variable costs vary in proportion to the hours of operation. Express the total cost behaviour in formula form (Y = a + bx). What is the variable electricity cost per hour of operation? (5 marks) b) During July, the complex will open for 570 hours. Predict the complex's total electricity costs for July using the cost estimation method employed in above requirement a). (3marks) c) What is the main drawback of the high-low method of cost estimation? (2 marks, maximum 150 words)

Week 3 Toys World started and finished job number A26, a batch of 1,000 cuddly koalas, during March 2020. The job required $4,850 of direct material and 32 hours of direct labour at $20 per hour. The predetermined overhead rate is $10.50 per direct labour hour. On 31st March, 900 of the cuddly koalas were shipped to a local toy shop.

Required: a) Prepare journal entries to record the incurrence of production costs, completion of job number A26 and the shipment of 900 cuddly koalas to local toy shop. (5 marks) b) Calculate the cost per cuddly koala for job number A26. (2 marks) c) How might the managers at Toys World use this information? (3 marks