GROUP 5

1. Afra Diana Salsabila 20080694062

2. Ananda Azkia Fatmawati 20080694055
3. Aprelinda Purnatasari 20080694032
4. Brigitha Alfina Maharani Yosef 20080694084
5. Jacklyn Dona Silvia 20080695015
6. Rara Anggraini 20080694008
 STATEMENT OF COST OF GOODS MANUFACTURED

Work in Process – initial inventory

Raw Material:
Raw material cost – initial inventory Rp 300,000
Material purchase for a year Rp 3,200,000
Material purchase return -Rp 100,000
Purchase freight expense Rp 250,000
Total purchase of raw material Rp 3,350,000
Raw material cost - Ready for production Inventory Rp 3,650,000
Raw material cost – ending inventory -Rp 200,000
Total Cost of Raw Material Rp 3,450,000
Direct Labor Rp 1,400,000
Cost of Factory Overhead:
Indirect Labor Rp 500,000
Depreciation expense – factory Rp 300,000
Insurance expense (Factory) Rp 150,000
Maintainance expense (equipment) Rp 50,000
Total Cost of Factory Overhead Rp 1,000,000
Total Cost of Production
Total Cost of Work in Process
Work in Process – ending inventory
Cost of Goods Manufactured
 INCOME STATEMENT

Rp 1,500,000 Net Sales

Sales Rp 10,000,000
Sales Return -Rp 100,000
Net Sales
Cost of Goods Sold
Inventory – initial Rp 3,000,000
Cost of Goods Manufactured Rp 6,350,000
Goods ready to sale Rp 9,350,000
Inventory – ending -Rp 2,000,000
Cost of Goods Sold
Gross Profit
Expenses
Adv. Expense Rp 500,000
Salary administration dept Rp 400,000
Marketing expense Rp 250,000
Total expense
Net Income
Rp 5,850,000
Rp 7,350,000
Rp 1,000,000
Rp 6,350,000
Rp 9,900,000

Rp 7,350,000 -
Rp 2,550,000

Rp 1,150,000
Rp 1,400,000
-
2. Prepare the Closing Journal

Account Debit Kredit

Cost of Goods Manufactured Summary Rp 7,650,000
Material Purchase for a Year Rp 3,200,000
Purchase Freight Expense Rp 250,000
Direct Labor Rp 1,400,000
Indirect Labor Rp 500,000
Maintenace Expense Rp 50,000
insurance Expense Rp 150,000
Depreciation Expense - Factory Rp 300,000
Raw Material Cost - Initial inventory Rp 300,000
Work In Process - Initial Inventory Rp 1,500,000

Work In Process - Ending Inventory Rp 1,000,000

Raw Material Cost - Ending Inventory Rp 200,000
Material Purchase Return Rp 100,000
Cost of Goods Manufactured Summary Rp 1,300,000

Sales Rp 10,000,000
Inventory - Ending Rp 2,000,000
Income Summary Rp 12,000,000

Income Summary Rp 9,350,000

Inventory - Initial Rp 3,000,000
Cost of Production Rp 6,350,000

Income Summary Rp 1,250,000

Sales return Rp 100,000
Salary administration dept Rp 400,000
Adv. Expense Rp 500,000
Marketing Expense Rp 250,000

Income Summary Rp 1,400,000

Capital Rp 1,400,000
Total Rp 32,950,000 Rp 32,950,000