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6 marksOverheads and Manufacturing Accounts

CAPE Accounting Unit 2 · 2015 · Paper 2 · Question 1(a)(ii)

Information is provided regarding balances taken from the books of Sicard Industries on 31 December 2014, including inventories, purchases, wages, overheads, and other expenses.

Calculate Sicard Industries' cost of goods sold (Cost of Sales) for the year ended 31 December 2014.

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Other parts of this question

  1. 1(a)(i)Prepare a schedule of cost of goods manufactured for the year ended 31 December 2014.[20 marks]
  2. 1(a)(iii)Prepare a schedule of Sicard Industries' selling and distributions costs for the year ended 31 December 2014.[5 marks]
  3. 1(b)(i)Explain what happens under the FIFO stock valuation method to the value of the materials issued.[2 marks]
  4. 1(b)(ii)Explain what happens under the FIFO stock valuation method to the value of closing inventories.[2 marks]

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