Asterix plc, a manufacturing company, has extracted the following balances from its books of account for the year ended 30 April 2012:         $ Revenues 6 500 Purchases of raw materials 1 450 Carriage inwards 130 Carriage outwards 75 Direct labour 1 675 Factory overheads 1 350 Office overheads 1 025 Inventories at 1 May 2011:   Raw materials 140 Work in progress 165 Finished goods (at transfer price) 330   Additional information: Factory overheads of $70 000 are accrued at 30 April 2012. Office overheads of $35 000 have been prepaid at 30 April 2012. Depreciation for the year on the non-current assets totaled $150 000 and this is to be split between the factory and the office in the ratio 2:1. Completed production is transferred at a mark-up on cost of 20%. Inventories were valued on 30 April 2012 as follows:             Raw materials                                     235                 work in progress                                320                      Finished goods (at transfer price)     438 REQUIRED Prepare a manufacturing account and income statement for the year ended 30 April

Asterix plc, a manufacturing company, has extracted the following balances from its books of account for the year ended 30 April 2012:

Additional information:

• Factory overheads of $70 000 are accrued at 30 April 2012.
• Office overheads of $35 000 have been prepaid at 30 April 2012.
• Depreciation for the year on the non-current assets totaled $150 000 and this is to be split between the factory and the office in the ratio 2:1.
• Completed production is transferred at a mark-up on cost of 20%.
• Inventories were valued on 30 April 2012 as follows:

            Raw materials                                     235   

             work in progress                                320       

              Finished goods (at transfer price)     438

REQUIRED

• Prepare a manufacturing account and income statement for the year ended 30 April