Unit-15 Manufacturing Account

This unit discusses how to ascertain the cost of goods produced and how to prepare the Manufacturing and Trading Accounts.

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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

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

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Learning Pundits Content Team
Written on Jun 26, 2019 11:58:22 AM

The Trading Account of the manufacturer shows fewer items as compared to the Trading Account of a trader. It is because most of the direct expenses have already been included in the Manufacturing Account. The Trading Account now shows only the cost of goods produced, opening and closing stocks of finished goods. and the net sales. However, if the manufacturer also purchases some finished goods for resale directly from the market, this can also be debited to the Trading Account.

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Unit-15 Manufacturing Account

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

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Written on Jun 26, 2019 11:58:22 AM

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Unit-15 Manufacturing Account

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

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