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4 marksCost Classification and Manufacturing Accounts

CSEC Principles of Accounts · May/June 2016 · Paper 2 · Question 4(a)(i)

Little People Furnishings manufacturing data and end-of-year adjustments for the year ended 31 December 2015.

Prepare the Manufacturing Account for the year ended 31 December 2015, showing clearly the cost of raw materials used.

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Other parts of this question

  1. 4(a)(ii)Show clearly the prime cost in the Manufacturing Account.[3 marks]
  2. 4(a)(iii)Show clearly the total production cost in the Manufacturing Account.[4 marks]
  3. 4(b)(i)Prepare the Income Statement for the year ended 31 December 2015, showing clearly the Gross Income.[4 marks]
  4. 4(b)(ii)Show clearly the Net Income in the Income Statement.[3 marks]
  5. 4(c)Calculate the unit cost of production for the year given that 12 900 sets were manufactured.[2 marks]

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