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True or False
A. Receive all payments
B. Pay all bills
C. Deposit all funds
D. All of these options
As at the 1/1/2004 stock of finished goods at market value GHS 4200 (in units 300
transferred at cost plus 20%) during the year unit started were 4000 but completed
units were 3800 and were transferred to warehouse at cost plus 20%. Total direct
cost and total indirect cost on all the 4000 units at production centers were GHS85,
000 and GHS45,000 respectively. Opening stock of work-in-progress was 400
units valued at the factory cost of GHS6, 000, and the value of the work-in-progress
at the close of the year was GHS2000.unit sold during the year was 3300
respectively. You are required to determine the following:
A. Manufacturing profit
i. Total Manufacturing profit realized during the period
ii. Total Manufacturing profit created during the period
iii. Total Manufacturing profit created during the period and realized
a. The incorporators subscribed to twenty five percent of the authorized share capital and paid 25% of the subscription price.
b. The incorporators paid the balance of the subscription.
Journalize the transactions
Balances at 1 April 2019
R
Equipment: Cost
28 000
Accumulated depreciation: Equipment
(26 133)
Additional information
At the beginning of the financial year, 1 April 2019, Namgoong Plastics replaced its plastic shredding equipment with new glass recycling equipment that had a purchase price of R45 600. The replaced plastic shredding machine was sold for R5 000 cash, it was the only piece of equipment in the books of Namgoong prior to the purchase of the new glass recycling equipment. Depreciation is provided at 20% p.a. on the straight-line method.
The depreciation on the glass recycling equipment for the year ended 31 March 2020 amounted to:
REQUIRED:
From the clip and do the following: -
Identify and discuss all cost elements of orange juice production
An investor would like to invest in orange juice production and he would like to know how much it will cost to produce a box of orange juice. He has shared a YOUTUBE clip of another orange juice production company to help with this activity. https://www.youtube.com/watch?v=T8KJGtMGMSY REQUIRED: From the clip and do the following: - a. Define and identify the cost object b. Identify and discuss all cost elements of orange juice production c. From (b) above, classify all elements of cost into direct and indirect cost and justify your answer. For example, Testers testing the quality of orange juice are direct labours because they are directly involved in the ensuring the quality of orange juice. d. Which product-costing system best describe orange juice production, justify your answer.
