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Format of Manufacturing Account

1) The document provides financial statements for a manufacturing company for the year ended 31 December 2023, including a statement of profit or loss and statement of financial position. 2) It details the company's raw materials, manufacturing costs, work in progress, sales, expenses, and profit for the year of $xxx. 3) The statement of financial position outlines the company's non-current assets of $xx, current assets of $xx, capital of $x, non-current liabilities of $x, and current liabilities of $x.

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766 views

Format of Manufacturing Account

1) The document provides financial statements for a manufacturing company for the year ended 31 December 2023, including a statement of profit or loss and statement of financial position. 2) It details the company's raw materials, manufacturing costs, work in progress, sales, expenses, and profit for the year of $xxx. 3) The statement of financial position outlines the company's non-current assets of $xx, current assets of $xx, capital of $x, non-current liabilities of $x, and current liabilities of $x.

Uploaded by

izzah esa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Manufacturing account for the year ended 31 Dec 2023

$ $
Raw materials:
Opening inventory x
Purchases x
Carriage inwards x
xx
Closing inventory (x) xx
Direct costs:
Manufacturing wages x
Royalties x xx
PRIME COST xx
Factory overheads:
x
x
x
Depreciation: machinery x xx
xx
Work in progress:
Opening inventory x
Closing inventory (x) xx
Manufacturing cost xx
Manufacturing profit xx
Transfer cost xx

Statement of profit or loss for the year ended 31 December 2023


$ $
Sales x
Less: cost of sales
Opening inventory x
Manufacturing cost/Transfer cost xx
xx
Closing inventory (x) (xx)
Gross Profit xx
Manufacturing profit x
Add/Less: Provision of unrealised profits x xx
xx
Add: Income
Discount received x
xx
Less: expenses
Carriage outwards x
x
x
x (xx)
Profit for the year xxx

Statement of financial position as at 31 December 2023


cost acc dep book value
$ $ $
Non- current assets
Equipment x (x) xx

Current assets
Inventory: Raw materials x
Work in progress x
Finished goods x
Less: Prov for unrealised profits (x) x
Trade receivables x
Less: Prov for doubtful debts (x) x
Bank x
Prepayments x xx
Total assets xx

Capital and liabilities


Capital (start FY) x
Profit for the year x
Drawings (x)
x
Non- current liabilities
Bank Loan x

Current liabilities:
Trade payables x
Total capital and liabilities xx

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