MANUFACTURING ACCOUNTING

Company Name or Person Manufacturing Account for the period ended December 31, 19__ XXX XXX XXX XXX (XXX) XXX XXX (XXX) XXX XXX XXX XXX XXX

Raw Materials (opening)

Add: Purchases of Raw materials Transportation on Purchase (Carriage-in) Cost of Purchase of Raw Materials Less: Raw Materials returned Net Purchases of Raw Materials Cost of Raw Materials available for use Less: Raw Materials (closing) Cost of Raw Materials consumed (used) Add: Direct Labor (manufacturing wages) Direct Expenses/ Royalties Prime Cost Add: Factory Over head or (Manufacturing Over Heads) General factory over heads Heat, Light and power Factory Rent and Rates Factory Insurance Depreciation on factory plant and machinery Indirect Labor Indirect Materials Other manufacturing expenses Total Factory (manufacturing) overhead Manufacturing Cost Add: Work-in-progress (opening) Total work-in-progress Less: Work-in-progress (closing) Cost of Production or (Cost of Goods Manufactured)

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MANUFACTURING ACCOUNTING
Manufacturing Trading Profit and Loss Account For the period ended December 31, 19__ Sales Less: Return Inwards Net Sales Less: Cost of Goods Sold Finished Goods (opening) Add: Production cost of goods completed Cost of goods available for sale Less: Finished goods (closing) Cost of goods sold Gross Profit Add: Discount Received Other revenues & Gains (e.g. Sale of Scrap materials) Less: Operating Expenses Administrative expenses Selling and distribution expenses Carriage outwards (carriage on sales) Discount allowed (sales discount ) Lighting-office Any expenses paid Add: Any accrued expenses Less: Any prepaid expenses XXX (XXX)

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XXX Salesman salaries XXX Commission on sales XXX Bank charges XXX All expenses which is not directly related with the production XXX Total operating expenses-------------------------------------------------------- ------------------ ---------------- (XXX) Net profit------------------------------------------------------------------------------ ------------------ ---------------- XXX

Company Name or Person Balance Sheet as at December 31, 19__ Fixed Assets Production Machinery--cost Less: Provision for depreciation Office Equipment--cost Premises--cost Total Fixed Assets Current Assets Stocks Raw Materials (closing) Finished Goods (closing) Work-in-progress (closing) Debtors Less: Provision for Bad Debts Any prepaid expenses Bank Cash Total Current Assets Less: Current Liabilities Creditors Bank overdraft Any accrued expenses Total Current Liabilities Working Capital Capital Employed (Net Assets) Financed By: Capital (opening) Add: Net profit Additional capital introduced Less: Drawings Capital (closing) Long Term Liability Loan Capital Employed XXX (XXX)

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