Name the items shown in the Trading Account of a Manufacturer.

What is Work-in-Progress?

What is Scrap?

Work out the cost of materials consumed from the following data.

Name two items which can be regarded as manufacturing expenses.

What for a Manufacturing Account is prepared?

Describe briefly how the cost of goods produced can be ascertained.

How do you deal with the following items in the Final Accounts of a manufacturer? Explain the nature of each item. State whether it is debited or credited to the Manufacturing Account or the Trading Account.

a)Coal, Gas and Water

b)Dock Dues and Clearing Charges

c)Work-in-Progress

d)Purchases of Finished Goods

e)Purchases Returns of Raw Materials

f)Sales Returns

g)Opening and Closing Stock of Finished Goods