Accounting | 5.3. Exercises Source: based on E. nieek, E. Waliska, M. Frendzel, J. Stpie-Andrzejewska, "Financial Accounting", CCAE, d, 2007, Chapter 5. Exercise 1-modified The enterprise "Pepe" Ltd. as at 1 June 200X had the following balances of chosen accounts: -bank loans - 4 000. The following costs were incurred in June: Cost / expense Total Manufacturing Administrative Selling costs expenses costs Materials and energy used 15 000 10 500 4 400 100 Salaries and wages 6000 4 500 1500 Other costs by nature 3 000 2000 800 200 TOTAL 24 000 17 000 6 700 300 Chosen accounting operations in June: 1. Costs by nature were recorded. 2. The bank informed about calculation of interest on loans granted to the enterprise "Pepe" Ltd. The amount of the interest is 200. 3. 1000 units of product "X" were manufactured and taken to the warehouse. Manufacturing cost of one unit was calculated at $17. 4. 1000 units of finished good "X" were sold at $20/unit with deferred payment (invoice). 5. Sold products were delivered to the purchaser. Required: a) Record given business events knowing that costs are classified as costs by nature. b) Calculate (using accounts) profit or loss for the period according to the cost by nature structure