J. Salim is a manufacturer. His trial balance at December 31 2019 is as follows

	Shs	Shs
Delivery van expenses	2,500
Lighting and heating: Factory	2,859
Office	1,110
Manufacturing wages	45,470
General expenses: Office	3,816
Factory	5,640
Salesmen's commission	7,860
Purchase of raw materials	39,054
Rent: Office	2,200
Factory	4,800
Machinery (cost shs 50,000)	32,500
Office equipment (cost shs 15,000)	11,000
Office salaries	6,285
Debtors	28,370
Creditors		19,450
Bank	13,337
Sales		136,500
Premises (cost shs 50,000)	40,000
Stock as at 31 December 2018
Raw materials	8,565
Finished goods	29,480
Drawings	8,560
Capital		137,456
	293,406	293,406

NOTES:

. Give effect to the following adjustments.

a)    Stock at 31 December 2019: Raw materials shs 9.050, finished goods shs 31,200 there is no work in progress.

b)    Deprecate machinery shs 2,000, office equipment shs 1,500, premises shs 1,000.

c)    Manufacturing wages due but unpaid at 31 December 2019 shs 305, office rent prepaid shs 108.

Required:

Please fill in the gaps in the questions given below. The amounts should be filled in without any spaces or commas in the numerals.

1) The figure for the prime cost is shs

2) total factory overhead expenses are shs

3) The amount for production cost of completed goods is shs

4) The cost of goods sold is an amount of shs

5) The gross profit for Salim's business is shs

6) The net profit for this business works out to shs

7) The net book values of all the fixed assets total shs

8) Total current assets in the balance sheet are shs

9) Total current liabilities in the balance sheet are shs

10) The net assets or capital employed on the balance sheet works out to shs

Answer rating: 100% (QA)

1 The figure for the prime cost is shs Opening Raw Material 8565 Add Purchase of Raw Material 39054 Less Closing Raw Material 9050 Direct Material Cos... View the full answer