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Bronco Sdn Bhd manufactures fishing rods. At the beginning of July, the following information was...

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Accounting

Bronco Sdn Bhd manufactures fishing rods. At the beginning of July, the following information was extracted from its financial records: RM Raw materials inventory 40,000 Work-in-progress inventory 21,000 Finished goods inventory 23,200 During July, the direct labour cost was RM 43,500, raw materials purchases were RM 64,000 and the total overhead cost was RM 108,750. The inventories at the end of July were: RM Raw materials inventory 19,800 Work-in-progress inventory 32,500 Finished goods inventory 22,100 ACC 1106 (F) / Page 3 of 7 Required: (i) What is the cost of the direct materials used in production during July? (5 marks) (ii) What is the cost of goods manufactured for July? (5 marks) (iii)What is the cost of goods sold for July? (5 marks)

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