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    Little People Furnishing

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    Denae Francis
    Little People Furnishing's manufacturing account for the year ending December 31, 2015 showed a production cost of $111,960. This included $27,000 for raw materials used, $48,000 in factory wages, and a $25,800 license fee for a prime cost of $100,800. Depreciation expenses of $7,360 for plant and machinery, $2,200 for fixtures and fittings, and $1,600 in repairs to fixtures and fittings contributed to $11,160 in overheads and a total production cost of $111,960.

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    Little People Furnishing

    Uploaded by

    Denae Francis
    3 views2 pages
    Little People Furnishing's manufacturing account for the year ending December 31, 2015 showed a production cost of $111,960. This included $27,000 for raw materials used, $48,000 in factory wages, and a $25,800 license fee for a prime cost of $100,800. Depreciation expenses of $7,360 for plant and machinery, $2,200 for fixtures and fittings, and $1,600 in repairs to fixtures and fittings contributed to $11,160 in overheads and a total production cost of $111,960.

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    help with Principle of Accounts

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    LITTLE PEOPLE FURNISHING

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    Little People Furnishing's manufacturing account for the year ending December 31, 2015 showed a production cost of $111,960. This included $27,000 for raw materials used, $48,000 in factory wages, and a $25,800 license fee for a prime cost of $100,800. Depreciation expenses of $7,360 for plant and machinery, $2,200 for fixtures and fittings, and $1,600 in repairs to fixtures and fittings contributed to $11,160 in overheads and a total production cost of $111,960.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    3 views2 pages

    Little People Furnishing

    Uploaded by

    Denae Francis
    Little People Furnishing's manufacturing account for the year ending December 31, 2015 showed a production cost of $111,960. This included $27,000 for raw materials used, $48,000 in factory wages, and a $25,800 license fee for a prime cost of $100,800. Depreciation expenses of $7,360 for plant and machinery, $2,200 for fixtures and fittings, and $1,600 in repairs to fixtures and fittings contributed to $11,160 in overheads and a total production cost of $111,960.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    LITTLE PEOPLE FURNISHING

    Working out
    Depreciation of fixtures and fittings
    $27,500 x 20%= $5500
    $5500 x 40% = $2200

    Repairs to fixtures and fittings


    $4000 x 40% = $1600

    License fee ($2 x $12,900)


    =$25,800
    Little People furnishing
    Manufacturing A/C for the year end 31, December 2015
    $ $
    Opening stock of raw materials 5000
    Add purchases of raw materials 112,000
    Cost of raw material available 117,000
    Less closing stock of raw materials 90,000
    Cost of raw material used 27,000
    Add factory wages 48,000
    Add license fee ($2 x $12,900) 25,800
    Prime cost 100,800
    Add overheads
    Depreciation on plant and machinery 7360
    Depreciation of fixtures and fittings 2200
    Repairs to fixtures and fittings 1600
    11,160
    Production cost 111,960

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