The company's expenses during the above period were: depreciation = 1500,  exhibition expenses = 800, factory insurance premiums = 650,  administrative employees' fees=22000,  depreciation of factory machinery = 1400,  rent=6500, salesmen's travel expenses = 1500, factory warden salaries = 2200, cleaning costs = 450,  subscriptions = 150,  maintenance costs = 320, indirect production materials = 750,  factory maintenance costs = 1100,  advertising costs = 5100,  salaries of salesmen = 10000,  utility costs = 4800, sample costs = 650, indirect work = 3600,  interest debit & related financial expenses = 750, foreman salaries = 4100,  other promotion costs = 390,  lawyers' fee = 10000, accountants' fee = 11000, miscellaneous production consumables = 900. Prepare the cost report and profit and loss statement

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The company's expenses during the above period were:

depreciation = 1500,

 exhibition expenses = 800,

factory insurance premiums = 650,

 administrative employees' fees=22000,

 depreciation of factory machinery = 1400,

 rent=6500, salesmen's travel expenses = 1500,

factory warden salaries = 2200,

cleaning costs = 450,

 subscriptions = 150,

 maintenance costs = 320,

indirect production materials = 750,

 factory maintenance costs = 1100,

 advertising costs = 5100,

 salaries of salesmen = 10000,

 utility costs = 4800,

sample costs = 650,

indirect work = 3600,

 interest debit & related financial expenses = 750,

foreman salaries = 4100,

 other promotion costs = 390,

 lawyers' fee = 10000,

accountants' fee = 11000,

miscellaneous production consumables = 900.

Prepare the cost report and profit and loss statement

 

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