Question

( I need all the three parts solution as per provided templated below) Zebra Productions presents you with the following data for the month of March 2014.                                                                                                                                                     $ Purchases                                                42 300 Direct labor cost                                     10 000 Cost of goods sold                                 61 000 Manufacturing overheads                       15 000 Inventory accounts showed the following opening and closing balances:         1stMarch             $                   31st March               $ Direct materials       7,000 7,400 Work-in-procss 9,600         13,000 Finished goods 15,000 17,500 Other expenses for the month were: Selling expenses                                                    $4,100 General and administrative expenses                    $2,900 Sales for the month were                                      $82,000 Required:                                                                                                                    8marks Prepare Manufacturing Statement for the month ending 31st March Trading Account for the month. Profit & Loss Statement for the same month.
Manufacturing statement:
Zebra Production’s Manufacturing Statement for month ended 31st March 2014 $ $ Raw materials inventory Purchases Total materials available Less: Raw Materials Inventory Cost of raw materials consumed Cost of direct labour Cost of manufacturing overhead Total Cost charged into production Add: Work-in-Process Inventory Less: Work-in-Process Inventory Cost of goods manufactured
b) Trading statement:
Zebra Productions Trading Statement for month ended 31st March 2014 $ $ Sales Less: Cost of goods sold: Gross profit from sales
c) Profit and loss statement:
Zebra Productions Profit and Loss Statement for month ended 31st March 2014	$	$
Sales
Less: Cost of goods sold
Gross profit from sales
Less: Operating expenses
Selling expenses
General and administrative expenses
Net operating profit

Answer 1

a) Manufacturing statement

Zebra Productions Manufacturing Statement For the month ended 31st March 2014	$	$
Raw materials inventory	7,000
Purchases	42,300
Total raw materials available	49,300
Less:raw material inventory	7,400
Cost of raw material consumed		41,900
Cost of direct labor		10,000
Cost of manufacturing overhead		15,000
Total cost charged to production		66,900
Add: work in progress inventory	9,600
Less: work in progress invneotry	13,000
Cost of goods manufactured		63,500

b) Trading statement

Zebra Productions Trading Statement For the month ended 31st March 2014	$
Sales	82,000
Less: cost of goods sold	61,000
Gross profit from sales	21,000

c) Profit and loss staement

Zebra Productions Profit and Loss Statement For the month ended 31st March 2014	$	$
Sales		82,000
Less: cost of goods sold	61,000
Gross profit from sales		21,000
Less: operating expenses
selling expenses	4,100
general and adminsitrative expenses	2,900
Net operating profit		14,000