You are provided with the cost of goods manufactured statement and income statement for Prider Manufacturers Ltd.

Required

(a) Prepare the closing entries for Prider Manufacturers Ltd.

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Direct materials: Beginning raw materials Purchases Freight inwards Ending raw materials Direct materials used Direct labour Factory overhead: Consumables PRIDER MANUFACTURERS PTY LTD Cost of Goods Manufactured Statement for the year ended 30 June 2019 Depreciation expense (plant and equipment) Electricity Indirect labour Insurance Rent of factory Sundry expenses Supplies Total manufacturing costs for the period Beginning work in process Total work in process Ending work in process COST OF GOODS MANUFACTURED $ 53800 155 680 2500 211980 57 200 2560 14800 $154780 398000 46 200 62 800 24000 54200 3400 7650 215610 768390 39200 807 590 40 560 $767030