Manufacturing Account

Name of the Business Manufacturing Account for the Year Ended 31st December 2008 Opening stock of raw material Add : purchase of raw material Add : carriage inwards Less : Return outwards/P/return Less closing stock of raw material Cost of raw material used Add: direct labor cost/ direct wages/ factory wags/ Mfg. wages Add: direct expenses ( if any) ( Royalty) Prime cost Add: F.O.H Indirect material cost Indirect labor cost Deprecation of factory machinery/ building Rent of factory building Fuel expenses Utility bills of factory Repair and maintenance of factory Loose tools expenses (opening stock + purchases – closing stock) Insurance of factory machinery / building Total factory cost/ total manufacturing cost Add: Opening work in progress Less: Closing work in progress Production cost Add : factory profit or manufacturing profit ( loss) xxx. xxx. xxx. xxx. xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx. xxx. xxx. xxx. xxx xxx xxx xxx xxx

Transfer value

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TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 19X5 £ Sale Less return inwards /sale returns Net sale Less cost of goods sold Opening stock of finished goods Production cost/Transfer value Less closing stock of finished goods Gross profit Add discount received / rent received Less: expenses Rent Salaries Wages Insurance Advertising Carriage outwards Repair and maintenance Bad debts Increase in Provision for bad debts Van running cost Fuel expenses Profit on Trading Add: factory profit Less: Increase in Provision foe unrealized profit Net profit / Net loss Balance sheet xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx £ xxx xxx xxx xxx xxx xxx xxx xxx xxx Current assets Stock of raw material (closing) Work in progress Finished goods (closing) (closing) xxx xxx xxx .

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