Q.From the following particulars, prepare a combined manufacturing & trading account of M/s Jain for the year ended 31.12.14 Particular AMOUNT Particular AMOUNT () Works managers salary Import Duty Purchase of finished Opening stocks A/c 5,000 12,500 Raw material A/c Work in Progress A/c Finished Goods 35,000 15,000 60,000 goods Raw material returned 40,000 10,000 Purchase of raw materials 2,00,000 Closing Stock 25,000 12,500 1,00,000 1,15,000 4,50,000 5,000 1,000 7,500 13,000 30,000 1,500 Raw Materials Work- in progress Finished Goods Wages Sales Return Inward Carriage inward Depreciation on plant Fuels and Power Factory Rent Factory Lighting

accounts

Prepare Statements for a Manufacturing CompanyThe following balances are from the accounts of Hill Components:January 1 (Beginning) December 31 (Ending)Direct materials inventory ............... $48,100 $44,200Work-in-process inventory .............. 67,730 71,500Finished goods inventory ................ 15,600 18,200Direct materials used during the year amount to $59,800, and the cost of goods sold for the year was $68,900.RequiredFind the following by completing a cost of goods sold statement:a. Cost of direct materials purchased during the year.b. Cost of goods manufactured during the year.c. Total manufacturing costs incurred during the year.

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