Revision

Question 1

Schedule of cost of goods manufactured

Answer 1

Direct materials :
Raw mat beginning 
Add: purchases of raw mats
=raw mate available for use 
(Raw mats end)
= raw mats used in production 

Direct labour

Manufacturing overhead (all costs like dep,maintenance insurance (everything else on the q)

All manu over added = total over head costs

Everything so far added = total manufacturing costs

Add work in progress inv beginning

Deduct work in process ending

= cost of goods manufactured

Question 2

Profit and loss

Answer 2

Sales 
Cost of goods sold :
Finished goods inv open
Add:cost of goods manufactured 
= goods available for sale 
Deduct (finished goods inv end)

Gross margin

Less operating expenses

=operating profit