Page 39 - IC26 LIFE INSURANCE FINANCE
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UNIT 2: FINAL ACCOUNTS OF MANUFACTURING ENTITIES
The manufacturing entities generally prepare a separate Manufacturing A/c as a part of Final accounts
in addition Profit and loss account and Balance Sheet.
Particulars Units Amount Particulars Units Amount
To raw materials consumed By-Products at net
Opening stock Realisable value
Add: Purchases By Trading A/c
Less: Closing Stock Cost of Production
To Direct wages
To Direst Expenses: Prime
cost
To Factory Overheads
Royalty
Hire Charges
To Indirect Expenses
Repairs & Maintenance
Depreciation
Factory cost
To opening Work-in-
Progress
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