Lambeth Custom Cabin

Raw materials
Amnt Amnt
Beginning balance 2150 1975
Purchased 1675
WIP 1175
Total 3825 3150
Ending balance 675

Adminsitative exp
Amnt Amnt
Beginning balance 3420

Supplies Inventories
Amnt Amnt
Beginning balance 620
Purchased 580
Transfer to Man O/H 490
(used)

End Balance 710

Other Assets
Amnt Amnt

Beginning balance 16890

COGS
Amnts Amnts

Transfer from F.G 9090

Lambeth Custom Cabinets

WIP a/c
Amnt Amnt
Beginning balance 5650 Jobs Account
Transfer to Finished gds.
A3 3805 A-3
A4 4175 Amnt Amnt
A6 1110 DM 750
O/H DL 1100
>beginning 1225 O/H 550
>end 1730 Beginning balance 2400
DL DM 280
>beginning 2450 DL 750
>end 3460 O/H 375
Transfer from RM 3150 End Balance 3805
total 17665 9090
End Balance 8575

A-4 A/c
Amnt Amnt
Finished goods DM 900
Amnt Amnt DL 650
Transfer from WIP O/H 325
A3 3805 Beginning balance 1875
A4 4175 DM 350
A6 1110 DL 1300
O/H 650
Transfer to COGS 9090 End Balnace 4175

Man. O/H
Amnt Amnt A-5 A/c
Amnt Amnt
DM 325
Transfer from Supplies 490 DL 700
O/H 350
Beginning balance 1375
DM 180
DL 550
O/H 275
Labour End Balnace 2380
Amnt Amnt

Cost of Labour 5460 A-6 A/c

 Amnt Amnt
DM 375
DL 490
O/H 245
Exp and In summary Beginning balance 1110
Amnt Amnt DM 375
DL 490
Revenue from :- O/H 245
A3 6125 End Balance 2220
A4 8600
A6 1750
A-7 A/c
Total 16475 Amnt Amnt
DM 590
DL 370
O/H 185
Beginning balance 1145
DM 590
DL 370
O/H 185
End Balnace 2290
Jobs Account
 Income statement for Lamb

Balance Sheet for September of

Income statement for Lambeth Custom Cabinets
Particulars Amnt

Sales 16475
Less: COGS 9090

Gross Profit 7385

Administrative Expenses 3420

Indirect labour 2000

Net Profit for the Year 1965

nce Sheet for September of Lambeth Custom Cabinets

Particulars 1-Sep 30-Sep

Assets
Inventories:-
Raw materials 2150 675
WIP 5650 8575
Supplies 620 710
Other Assets 16890 16890

Total 25310 26850

Liabilities
Other Liabilities 0 0
Equity 25310 26850

Total 25310 26850

Note :
Equity includes net profit 26850
(24885+1965)

Contribution analysis:-

Walworth sold to Ms. Carter at 1500

as a result jack lost the customer. They could have made the sale if following was the cost.
Lumber 590
Finishing material 75
Direct labour cost 640
Overhead 0
Total 1305

Therefore contribution = 1500-1305 = 195

so walworth didn’t charge the o/h to Ms. Lambert.