YARDSTICK INTERNATIONAL COLLEGE

DEPARTMENT OF PROJECT MANAGEMENT AND FINANCE

Managerial Accounting

Requirements
❖ Legible and neat Page format will be rewarded.
❖ Strictly follow the instruction given below.
❖ The assignment paper is to be submitted January 8, 2024.
❖ Clear and observable computation is required
❖ The project will be marked out of 15%.
❖ Doing this assignment negligently will reduce your point.
Alpha Company, a manufacturing firm, has supplied the following information from its
accounting
Records for the year 2023 (in thousands of birr):
Purchases of raw materials Br.76,000
Direct labor cost 52,500
Supplies used 5,300
Factory insurance 1,050
Commissions paid 7,500
Factory supervision 9,675
Advertising 2,400
Material handling 11,000
Work-in-process inventory, January 1, 2023 47,500
Work-in-process inventory, December 31, 2023 42,000
Materials inventory, January 1, 2023 10,400
Materials inventory, December 31, 2023 28,500
Finished goods inventory, January 1, 2023 20,055
Finished goods inventory, December 31, 2023 10,750
Sales as of December 31, 2023 250,000
Required
1. Prepare a statement of cost of goods manufactured. (5 points)
2. Prepare a statement of cost of goods sold. (5 points)
3. Prepare income statement (5-points)