Exhibit 2.10 Income statement and schedule of cost of goods manufactured or manufacturing-sector company Panel A:...

 

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Exhibit 2.10 Income statement and schedule of cost of goods manufactured or manufacturing-sector company Panel A: Cellular products income statement for the year ended 31 December 2005 (€000) Revenues €210000 Cost of goods sold Opening finished goods, 1 January 2005 Cost of goods manufactured (see Panel B) Cost of goods available for sale Closing finished goods, 31 December 2005 Gross margin (or gross profit) Operating costs Operating profit €22000 104000 126000 18000 108000 102000 70000 €32000 Panel B: Cellular products schedule of cost of goods manufactured for the year ended 31 December 2005 (€000) Direct materials Opening stock, 1 January 2005 Purchases of direct materials Cost of direct materials available for use €11000 73000 84 000 Closing stock, 31 December 2005 Direct materials used 8000 €76000 17750 Direct manufacturing labour Indirect manufacturing costs Indirect manufacturing labour Supplies Heat, light and power Depreciation- plant building Depreciation - plant equipment Miscellaneous Manufacturing costs incurred during 2005 Add opening work-in-progress stock, 1 January 2005 Total manufacturing costs to account for Deduct closing work-in-progress stock, 31 December 200S Cost of goods manufactured (to income statement) 4000 1000 1750 1 500 2500 500 11250 105 000 6000 111000 7000 €104000 UNIVERSITY OF SOUTHERN DENMARK Exhibit 2.10 Income statement and schedule of cost of goods manufactured or manufacturing-sector company Panel A: Cellular products income statement for the year ended 31 December 2005 (€000) Revenues €210000 Cost of goods sold Opening finished goods, 1 January 2005 Cost of goods manufactured (see Panel B) Cost of goods available for sale Closing finished goods, 31 December 2005 Gross margin (or gross profit) Operating costs Operating profit €22000 104000 126000 18000 108000 102000 70000 €32000 Panel B: Cellular products schedule of cost of goods manufactured for the year ended 31 December 2005 (€000) Direct materials Opening stock, 1 January 2005 Purchases of direct materials Cost of direct materials available for use €11000 73000 84 000 Closing stock, 31 December 2005 Direct materials used 8000 €76000 17750 Direct manufacturing labour Indirect manufacturing costs Indirect manufacturing labour Supplies Heat, light and power Depreciation- plant building Depreciation - plant equipment Miscellaneous Manufacturing costs incurred during 2005 Add opening work-in-progress stock, 1 January 2005 Total manufacturing costs to account for Deduct closing work-in-progress stock, 31 December 200S Cost of goods manufactured (to income statement) 4000 1000 1750 1 500 2500 500 11250 105 000 6000 111000 7000 €104000 UNIVERSITY OF SOUTHERN DENMARK Exhibit 2.10 Income statement and schedule of cost of goods manufactured or manufacturing-sector company Panel A: Cellular products income statement for the year ended 31 December 2005 (€000) Revenues €210000 Cost of goods sold Opening finished goods, 1 January 2005 Cost of goods manufactured (see Panel B) Cost of goods available for sale Closing finished goods, 31 December 2005 Gross margin (or gross profit) Operating costs Operating profit €22000 104000 126000 18000 108000 102000 70000 €32000 Panel B: Cellular products schedule of cost of goods manufactured for the year ended 31 December 2005 (€000) Direct materials Opening stock, 1 January 2005 Purchases of direct materials Cost of direct materials available for use €11000 73000 84 000 Closing stock, 31 December 2005 Direct materials used 8000 €76000 17750 Direct manufacturing labour Indirect manufacturing costs Indirect manufacturing labour Supplies Heat, light and power Depreciation- plant building Depreciation - plant equipment Miscellaneous Manufacturing costs incurred during 2005 Add opening work-in-progress stock, 1 January 2005 Total manufacturing costs to account for Deduct closing work-in-progress stock, 31 December 200S Cost of goods manufactured (to income statement) 4000 1000 1750 1 500 2500 500 11250 105 000 6000 111000 7000 €104000 UNIVERSITY OF SOUTHERN DENMARK Exhibit 2.10 Income statement and schedule of cost of goods manufactured or manufacturing-sector company Panel A: Cellular products income statement for the year ended 31 December 2005 (€000) Revenues €210000 Cost of goods sold Opening finished goods, 1 January 2005 Cost of goods manufactured (see Panel B) Cost of goods available for sale Closing finished goods, 31 December 2005 Gross margin (or gross profit) Operating costs Operating profit €22000 104000 126000 18000 108000 102000 70000 €32000 Panel B: Cellular products schedule of cost of goods manufactured for the year ended 31 December 2005 (€000) Direct materials Opening stock, 1 January 2005 Purchases of direct materials Cost of direct materials available for use €11000 73000 84 000 Closing stock, 31 December 2005 Direct materials used 8000 €76000 17750 Direct manufacturing labour Indirect manufacturing costs Indirect manufacturing labour Supplies Heat, light and power Depreciation- plant building Depreciation - plant equipment Miscellaneous Manufacturing costs incurred during 2005 Add opening work-in-progress stock, 1 January 2005 Total manufacturing costs to account for Deduct closing work-in-progress stock, 31 December 200S Cost of goods manufactured (to income statement) 4000 1000 1750 1 500 2500 500 11250 105 000 6000 111000 7000 €104000 UNIVERSITY OF SOUTHERN DENMARK Exhibit 2.10 Income statement and schedule of cost of goods manufactured or manufacturing-sector company Panel A: Cellular products income statement for the year ended 31 December 2005 (€000) Revenues €210000 Cost of goods sold Opening finished goods, 1 January 2005 Cost of goods manufactured (see Panel B) Cost of goods available for sale Closing finished goods, 31 December 2005 Gross margin (or gross profit) Operating costs Operating profit €22000 104000 126000 18000 108000 102000 70000 €32000 Panel B: Cellular products schedule of cost of goods manufactured for the year ended 31 December 2005 (€000) Direct materials Opening stock, 1 January 2005 Purchases of direct materials Cost of direct materials available for use €11000 73000 84 000 Closing stock, 31 December 2005 Direct materials used 8000 €76000 17750 Direct manufacturing labour Indirect manufacturing costs Indirect manufacturing labour Supplies Heat, light and power Depreciation- plant building Depreciation - plant equipment Miscellaneous Manufacturing costs incurred during 2005 Add opening work-in-progress stock, 1 January 2005 Total manufacturing costs to account for Deduct closing work-in-progress stock, 31 December 200S Cost of goods manufactured (to income statement) 4000 1000 1750 1 500 2500 500 11250 105 000 6000 111000 7000 €104000 UNIVERSITY OF SOUTHERN DENMARK Exhibit 2.10 Income statement and schedule of cost of goods manufactured or manufacturing-sector company Panel A: Cellular products income statement for the year ended 31 December 2005 (€000) Revenues €210000 Cost of goods sold Opening finished goods, 1 January 2005 Cost of goods manufactured (see Panel B) Cost of goods available for sale Closing finished goods, 31 December 2005 Gross margin (or gross profit) Operating costs Operating profit €22000 104000 126000 18000 108000 102000 70000 €32000 Panel B: Cellular products schedule of cost of goods manufactured for the year ended 31 December 2005 (€000) Direct materials Opening stock, 1 January 2005 Purchases of direct materials Cost of direct materials available for use €11000 73000 84 000 Closing stock, 31 December 2005 Direct materials used 8000 €76000 17750 Direct manufacturing labour Indirect manufacturing costs Indirect manufacturing labour Supplies Heat, light and power Depreciation- plant building Depreciation - plant equipment Miscellaneous Manufacturing costs incurred during 2005 Add opening work-in-progress stock, 1 January 2005 Total manufacturing costs to account for Deduct closing work-in-progress stock, 31 December 200S Cost of goods manufactured (to income statement) 4000 1000 1750 1 500 2500 500 11250 105 000 6000 111000 7000 €104000 UNIVERSITY OF SOUTHERN DENMARK

Answer rating: 100% (QA)

Sol Step 1Information Given Beginning Inventory 22000 Cost goods of Manufacture... View the full answer