Csec: May 2013, Question #4

No. 4(a): Calculation of missing figures and preparation of the Statement of Raw Materials Consumed:
Calculation of missing figures:

1. Raw materials inventory at 1st January, 2012 = 300 metres x $19 = $5,700.
2. Raw materials inventory at 31st December, 2012 = 340 metres x $24 = $8,160.
3. Purchases of raw materials = (4,500 metres x $19)+(2,150 metres x $24) = $85,500+$51,600 = $137,100.
4. Return outwards of raw materials = (100 metres x $24) = $2,400.

Below is the Statement of Raw Materials Consumed:

No. 4(b): Calculation of missing figures and preparation of Cost of Direct Labor Statement:
Calculation of missing figures:

1. Cutters’ wages = 4,500 dresses x $15 = $67,500
2. Stitchers’ wages = 4,120 dresses x $12 = $49,440
3. Pressers’ wages = 4,000 dresses x $5 = $20,000

Below is the Cost of Direct Labor Statement:

No. 4(c): Preparation of the Manufacturing Account of Fashion Forward for the year ended 31st December, 2012:

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