Fundamentals of Accounting Part 1

1
Accounting for Manufacturing Operations

Module 010 Accounting for Manufacturing

Operations

This module covers the accounting basics for manufacturing operations.

Topics included are the nature of manufacturing operations, additional
transactions and accounts for manufacturing, the different manufacturing
costs and its recording, and financial statement preparations for
manufacturing businesses.
At the end of the module, the students should be able to
1. Describe the nature of a manufacturing type of business.
2. Define manufacturing costs.
3. Enumerate and define manufacturing costs.
4. Define non-manufacturing costs.
5. Enumerate and define non-manufacturing costs.
6. Enumerate and define the categories of manufacturing costs.
7. Enumerate and define the kinds of inventories of a manufacturing
business.
8. Learn to record the specific manufacturing expenses.
9. Prepare financial statements for a manufacturing type of business.

Introduction
The accounting process for a manufacturing type of business is similar with the
merchandising and service type of businesses. There will only be additional transactions,
additional accounts to be used, longer financial statements and additional computations.

Nature of Manufacturing Operations

The term manufacturing refers to the production or creation of a product, either manually
or by using machines. Manufacture came from the Latin word manu facere which means
“make by hand”; manu means hand and facere is to make.
Under a manufacturing type of business, the company manufactures or makes the products
which it will sell. It converts raw materials to finished goods or products.
Raw Materials + Labor + Overhead = Finished Product

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Accounting for Manufacturing Operations

Accounting for manufacturing entails inventory valuation and a little complicated cost of
goods sold.

Manufacturing Costs
Manufacturing costs or factory costs or production costs are the expenditures incurred in
producing a product. These include the following:
 Direct Materials. These are the materials that are consumed in producing a
product. They are directly identified with the product. Examples: Wood used in
making furniture, textiles in producing dresses, shirts, and pants, water in bottled
drinks, steel in automobile.
 Direct labor. This refers to the labor cost associated with the process of producing
the finished goods. Example is the salaries and wages for the people involve in the
production process such as the furniture maker, dressmaker, baker, etc.
 Manufacturing overhead or factory overhead. These are the costs other than
direct materials and direct labor that are indirectly associated with the product.
Examples are salaries and wages of factory supervisors, quality assurance,
maintenance personnel; machine or equipment repair supplies and parts, factory
utilities, depreciation of non-current assets, rent of factory space.

Non-Manufacturing Costs
Non-manufacturing costs pertain to the expenses incurred outside production. They have
nothing to do with the conversion of materials into a finished product. These include:
 Selling Expenses or Distribution Expenses. These are the expenditures incurred
in the stage of bringing the products to the ultimate consumers. Examples are
advertising cost, salaries and commissions of sales people, storage costs, shipping
and delivery, and customer services.
 General Expenses. Also, called General and Administrative Expenses, these
expenditures pertains the costs related to the administration and management of
the organization. Examples are salaries of the executives, administrative people,
accounting expenses, legal expenses, research and development, etc.

Categories of Manufacturing Costs

Manufacturing costs –Direct materials, direct labor, and factory overhead are classified into
 Product Costs. All the costs incurred to create finished goods are called product
costs. These include:
Direct materials (inclusive of freight-in)
Direct Labor
Factory Overhead
 Inventoriable costs. These are the cost of a product or assigned to finished goods.
Initially, they are considered as assets and eventually charged to expense (costs).
Inventoriable costs consist of :
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Accounting for Manufacturing Operations

Direct materials
Direct labor
Freight-in
Manufacturing overhead (fixed and variable)
 Prime Costs. These are the direct costs in producing a product. These include:
Direct Material
Direct Labor
 Conversion Costs. These are the costs required to convert or transform raw
materials into finished goods. These include:
Direct Labor
Manufacturing Overhead

Kinds of Inventories in a Manufacturing Business

A manufacturing business has three kinds of inventories:
1. Raw materials inventory
2. Work in Process inventory
3. Finished Goods Inventory
Raw materials inventory are the unused direct materials as at the end of the accounting
period.
Goods in Process or Work in Process inventory are the jobs or works, or goods still in
process or unfinished as at the end of the accounting period.
Finished Goods inventory are the completely manufactured and ready for sale goods or
merchandise to the consumers.

Recording Specific Manufacturing Transactions

Additional business transactions specific to a manufacturing type of business and the
corresponding journal entries are as follows: (we will be using the periodic inventory
system)
Pro-forma General Journal Entries:
1. Purchase of raw materials
Raw Materials Purchases P XXX
Cash or Accounts Payable PXXX

2. Payment of Freight for raw materials

Freight-in P XXX
Cash PXXX

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Accounting for Manufacturing Operations

3. Return of defective raw materials

Accounts Payable PXXX
Raw Materials Return and Allowances P XXX

4. Payment for labor

Direct labor (or Payroll) P XXX
Cash PXXX

5. Accrual of direct labor

Direct Labor (or Payroll) P XXX
Accrued Direct labor PXXX

6. Incurrence of manufacturing expenses

Indirect Labor (or Salaries and Wages-Factory) PXXX
Factory Repairs and maintenance XXX
Factory Insurance XXX
Utilities Expenses-Factory XXX
Factory Rent
Cash (and/or other accounts credited) PXXX

End-of-the-Period Entries
1. To close raw materials used
Cost of Goods Manufactured PXXX
Raw Materials Inventory, end XXX
Raw Materials Returns and Allowances XXX
Raw Materials Purchases PXXX
Raw materials Inventory, beginning XXX
Freight-in XXX

2. To close direct labor

Cost of Goods Manufactured PXXX
Direct Labor or (Payroll) P XXX

3. To close manufacturing expenses (Overhead)

Cost of Goods Manufactured PXXX
Indirect Labor PXXX
Factory Repairs and Maintenance XXX
Factory Insurance XXX
Utilities Expenses-Factory XXX
Factory Rent XXX

4. To close Goods in Process beginning

Cost of Goods Manufactured PXXX
Goods in Process, beginning PXXX
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Accounting for Manufacturing Operations

5. To close Goods in Process, end

Goods in Process, End PXXX
Cost of Goods Manufactured PXXX

6. To close the balance of Cost of Goods Manufactured

to Cost of Goods Sold
Cost of Goods sold PXXX
Cost of Goods Manufactured PXXX

7. To close the finished goods inventory , beginning

Cost of Goods Sold PXXX
Finished Goods Inventory, beginning PXXX

8. To set up the finished goods inventory, ending

Finished Goods Inventory (ending) PXXX
Cost of Goods Sold PXXX

9. To close Cost of Goods sold to Revenue and Expense

Revenue and Expense Summary PXXX
Cost of Goods sold PXXX

Adjusting entries for manufacturing are just the same with merchandising.
Closing entries for Sales and other nominal accounts are similar to what we have done in
Merchandising.

Please take note that the above pro-forma entries are examples only. Accounts may change
depending on what the business uses.

Preparation of Financial Statements for Manufacturing Operations

The financial statements for a manufacturing type of business are a little bit different from
merchandising, specifically, the income statement.
Illustrative Problem: The unadjusted trial balance of ABC Corporation, a manufacturer of
clothing apparels, as at December 31, 2016 was given below:

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Accounting for Manufacturing Operations

ABC Corporation
Unadjusted Trial Balance
December 31, 2016

Accounts Debit Credit

Cash P 180,000
Accounts Receivable 47,000
Allowance for Doubtful Accounts P 2,000
Finished Goods Inventory 75,000
Goods in Process Inventory 35,000
Raw materials Inventory 30,000
Land 800,000
Building 1,500,000
Accumulated Depreciation-Building 150,000
Machinery 650,000
Accumulated Depreciation-Machinery 32,500
Delivery Equipment 100,000
Accumulated Depreciation-Del. Equipment 20,000
Office Furniture 50,000
Accumulated Depreciation- Office Furniture 5,000
Office Equipment 75,000
Accumulated Depreciation-Office Equipment 7,500
Accounts Payable 120,000
Notes Payable 55,000
Mortgage Payable 300,000
Capital Stock 1,500,000
Retained Earnings 600,000
Sales 1,400,000
Sales Returns 3,000
Sales Discount 2,500
Raw Materials Purchases 150,000
Raw Materials Returns and Allowances 3,000
Freight -in 10,000
Direct labor 120,000
Indirect Labor 65,000
Factory Repairs and Maintenance 35,000
Factory Property Taxes 10,500
Factory Insurance 15,000
Utilities Expenses 18,000
Salaries of other Factory personnel 25,000
Sales Salaries and Commissions 80,000
Advertising ExPense 10,000
Other Selling Expenses 15,000
General and Administrative Expenses 95,000
Interest Income 3,000
Interest Expense 2,000
Total P 4,198,000 P 4,198,000
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Accounting for Manufacturing Operations

Additional information provided on December 31, 2016:

1. Eighty percent of the building is occupied by the factory; 5% by the
office; 15% by the sales and marketing department. This allocation will
used as the basis of apportioning the depreciation.
2. Depreciation rates are as follows: Building – 10%; Machinery- 5%;
Delivery Equipment- 20%; other depreciable assets – 10%.
3. Allowance for Doubtful Accounts will be increased by 5% of Accounts
Receivable.
4. Prepaid Expenses at the end of the period: Advertising – P 3,000;
Insurance – P 5,000.
5. Accrued Expenses: Interest- P 500; Sales Salaries – P 4,000; Direct
Labor – P 10,000.
6. Allocation of Utilities Expenses: Factory – 60%; Office – 20%; Sales
Department – 20%.
7. Inventories- December 31
a. Finished Goods P 100,000
b. Raw materials P 50,000
c. Goods in Process P 40,000
Required:
A. Prepare the necessary adjusting entries.
B. Prepare the Worksheet.
C. Prepare the financial statements:
C.1 Income Statement
C.2Statement of Changes in Retained Earnings
C.3 Statement of Financial Position
D. Closing Entries
E. Post- closing Trial Balance

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Adjusting entries
ABC Corporation
Adjusting Entries
Date Accounts Debit Credit
2016
Dec 31 (2) Depreci a tion-Bui l di ng ₱ 150,000
Accumul a ted Depreci a tion-Bui l di ng ₱ 150,000

Depreci a tion- Ma chi nery 32,500

Accumulated Depreciation-Machinery 32,500

Depreciation-Delivery Equipment 20000

Accumulated Depreciation-Delivery Equipment 20000

Depreciation-office Furniture 5,000

Accumul a ted Depreci a tion-Offi ce Furni ture 5,000

Depreciation-Office Equipment 7,500

Accumulated Depreciation- Office Equipment 7,500

(3) Doubtful Accounts Expense 2,350

Allowance for Doubtful Accounts 2,350

(4) Prepaid Advertising 3,000

Advertising Expense 3,000

Prepaid Factory Insurance 5,000

Factory Insurance Expense 5,000

(5) Interest Expense 500

Interest Payable (or Accrued Interest Expense) 500

Sa l es Sa l a ri es Expens e 4,000
Accrued Sa l es Sa l a ri es (or Sa l es Sa l a ri es Pa ya bl e) 4,000

Direct Labor 10,000

Accrued Di rect La bor (Or Di rect La bor Pa ya bl e) 10,000
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Accounting for Manufacturing Operations

Worksheet
ABC Corporation
Worksheet
For the Year Ended December 31, 2016
Unadjusted Trial Balance Adjus tments Adjus ted Tri a l Ba l a nce Income Sta tement Ba l a nce Sheet
Accounts Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash ₱ 180,000 ₱ 180,000 ₱ 180,000
Accounts Receivable 47,000 47,000 47,000
Allowance for Doubtful Accounts ₱ 2,000 ₱ 2,350 ₱ 4,350 ₱ 4,350
Finished Goods Inventory 75,000 75,000
Goods in Process Inventory 35,000 35,000
Raw materials Inventory 30,000 30,000
Land 800,000 800,000 800,000
Building 1,500,000 1,500,000 1,500,000
Accumulated Depreciation-Building 150,000 150,000 300,000 300,000
Machinery 650,000 650,000 650,000
Accumulated Depreciation-Machinery 32,500 32,500 65,000 65,000
Delivery Equipment 100,000 100,000 100,000
Accumulated Depreciation-Del. Equipment 20,000 20,000 40,000 40,000
Office Furniture 50,000 50,000 50,000
Accumulated Depreciation- Office Furniture 5,000 5,000 10,000 10,000
Office Equipment 75,000 75,000 75,000
Accumulated Depreciation-Office Equipment 7,500 7,500 15,000 15,000
Accounts Payable 120,000 120,000 120,000
Notes Payable 55,000 55,000 55,000
Mortgage Payable 300,000 300,000 300,000
Capital Stock 1,500,000 1,500,000 1,500,000
Retained Earnings 600,000 600,000 600,000
Sales 1,400,000 1,400,000 ₱ 1,400,000
Sales Returns 3,000 3,000 ₱ 3,000
Sales Discount 2,500 2,500 2,500
Raw Materials Purchases 150,000 150,000 150,000
Raw Materials Returns and Allowances 3,000 3,000 3,000
Freight -in 10,000 10,000 10,000
Direct labor 120,000 ₱ 10,000 130,000 130,000
Indirect Labor 65,000 65,000 65,000
Factory Repairs and Maintenance 35,000 35,000 35,000
Factory Property Taxes 10,500 10,500 10,500
Factory Insurance 15,000 5,000 10,000 10,000
Utilities Expenses 18,000 18,000 18,000
Salaries of other Factory personnel 25,000 25,000 25,000
Sales Salaries and Commissions 80,000 4,000 84,000 84,000
Advertising ExPense 10,000 3,000 7,000 7,000
Other Selling Expenses 15,000 15,000 15,000
General and Administrative Expenses 95,000 95,000 95,000
Interest Income 3,000 3,000 3,000
Interest Expense 2,000 500 2,500 2,500
Total ₱ 4,198,000 ₱ 4,198,000
Prepa i d Adverti s i ng 3,000 3,000 3,000
Prepa i d Fa ctory Ins ura nce 5,000 5,000 5,000
Interes t Pa ya bl e 500 500 500
Sa l es Sa l a ri es Pa ya bl e 4,000 4,000 4,000
Accrued Di rect La bor 10,000 10,000 10,000
Depreci a ti on-Bui l di ng 150,000 150,000 150,000
Depreci a ti on Ma chi nery 32,500 32,500 32,500
Depreci a ti on-Del i very Equi pment 20,000 20,000 20,000
Depreci a ti on-Offi ce furni ture 5,000 5,000 5,000
Depreci a ti on-Offi ce Equi pment 7,500 7,500 7,500
Doubtful Accounts Expens e 2,350 2,350 2,350
Fi ni s hed Goods Inventory, end 75,000 100,000 100,000
Ra w ma teri a l s End 30,000 40,000 40,000
Goods i n Proces s Inventory, end 35,000 50,000 50,000
Tota l ₱ 239,850 ₱ 239,850 ₱ 4,429,850 ₱ 4,429,850 ₱ 1,019,850 ₱ 1,596,000 ₱ 3,600,000 ₱ 3,023,850
Net Income 576,150 576,150
Tota l ₱ 1,596,000 ₱ 1,596,000 ₱ 3,600,000 ₱ 3,600,000

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Accounting for Manufacturing Operations

Financial Statements
We will prepare an income statement using the condensed income statement format with
accompanying notes.
ABC Corporation
Income Statement
For the Year Ended December 31, 2016
Notes
Net Sales 1 ₱ 1,394,500
Less: Cost of Sales 2 545,800
Gross Profit ₱ 848,700
Less: Selling Expenses 6 152,100
Net Profit on Sales ₱ 696,600
Less: General and Administrative Expenses 7 120,950
Net Profit from Operations ₱ 575,650
Add(Deduct) Net Other Income (Expense) 8 500
Net Profit for the Year 2016 ₱ 576,150

Accompanying notes: (Please don’t mind the omission of the peso signs.)
Note 1 Net Sales
Sales 1,400,000
Less: Sales Returns and Allowances 3,000
Sales Discount 2,500 5,500
Net Sales 1,394,500

Note 2 Cost of Goods Sold (Cost of Sales)

Total Cost of Goods Manufactured Note 5 570,800
Add: Finished Goods Inventory, Jan2 75,000
Total Goods Available for Sale 645,800
Less: Finished Goods Inventory, Dec 31 100,000
Cost of Goods Sold 545,800

Note 3 Raw Materials Used

Raw Materials Used:
Raw Materials, Jan 2, 2016 30,000
Purchases of Raw Materials 150,000
Add: Freight-in 10,000
Gross Purchases of Raw materials 160,000
Less: Raw Materials Returns and Allowances 3,000
Net Purchases of Raw Materials 157,000
Raw Materials Available for Use 187,000
Less: Raw Materials, Dec 31, 2016 50,000
Raw Materials Used 137,000
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Accounting for Manufacturing Operations

Note 4 Total Factory Overhead

Factory Overhead:
Indirect labor 65,000
Factory Repairs and Maintenance 35,000
Factory Property Taxes 10,500
Factory Insurance 10,000
Utilities Expense -Factory* 10,800
Salaries of other Factory personnel 25,000
Depreciation-Machinery 32,500
Depreciation- Factory (building)** 120,000
Total Factory Overhead 308,800

*Utilities Expense-Factory
Total Utilities X 60% alloted to factory
P 18,000 X .60 = P10,800

** Depreciation-Factory
Cost of Building X allotment for Factory X 10% depreciation rate
P1,500,000 X 80% X 10% = P120,000
Note 5 Cost of Goods Manufactured
Raw Materials Used Note 3 137,000
Direct Labor 130,000
Factory Overhead Note 4 308,800
Total Cost put into process during the period 575,800
Add: Goods in Process, Jan 2 35,000
Total Costs in Process 610,800
Less: Goods in Process, Dec. 31 40,000
Total Cost of Goods Manufactured 570,800

Note 6 Selling Expenses

Sales Salaries and Commissions 84,000
Advertising Expenses 7,000
Other Selling Expenses 15,000
Depreciation-Delivery Equipment 20,000
Depreciation- Sales Area 22,500
Utilities Expense- Sales Area 3,600
Total Selling Expenses 152,100

Note 7 General and Administrative Expenses

General and Administrative Expenses 95,000
Utilities Expense - Office 3,600
Depreciation-Office 7,500
Depreciation-Office furniture 5,000
Depreciation- Office Equipment 7,500
Doubtful Accounts Expense 2,350
Total General and Administrative Expenses 120,950

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Accounting for Manufacturing Operations

Note 8 Net Other Income (Expense)

Interest Income 3,000
Less: Interest Expense 2,500
Net Other Income 500

Statement of Retained Earnings

ABC Corporation
Statement of Retained Earnings
For the Year Ended December 31, 2016

Retained Earnings, Jan 2 ₱ 600,000

Add: Net Income for the period 576,150
Retained Earnings, Dec. 31 ₱ 1,176,150

Balance Sheet
ABC Corporation
Statement of Financial Position
December 31, 2016
Notes
Assets
Current Assets 1 ₱ 420,650
Non-Current Assets 2 2,745,000
Total Assets ₱ 3,165,650

Liabilities and Stockholders' Equity

Liabilities
Current Liabilities 3 ₱ 189,500
Long-Term Liabilities 300,000
Total Liabilities ₱ 489,500
Stockholders' Equity
Capital Stock ₱ 1,500,000
Retained Earnings 1,176,150
Total Stockholders' Equity 2,676,150
Total Liabilities and Stockholders' Equity ₱ 3,165,650

Note 1 Current Assets

Cash ₱ 180,000
Accounts Receivable ₱ 47,000
Allowance for Doubtful Accounts 4,350 42,650
Finished Goods Inventory 100,000
Goods in Process Inventory 40,000
Raw materials Inventory 50,000
Prepaid Advertising 3,000
Prepaid Factory Insurance 5,000
Total Current Assets ₱ 420,650
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Accounting for Manufacturing Operations

Note 2 Non-Current Assets

Land ₱ 800,000
Building ₱ 1,500,000
Accumulated Depreciation-Building 300,000 1,200,000
Machinery ₱ 650,000
Accumulated Depreciation-Machinery 65,000 585,000
Delivery Equipment ₱ 100,000
Accumulated Depreciation-Del. Equipment 40,000 60,000
Office Furniture ₱ 50,000
Accumulated Depreciation- Office Furniture 10,000 40,000
Office Equipment ₱ 75,000
Accumulated Depreciation-Office Equipment 15,000 60,000
Total Non-Current Assets ₱ 2,745,000

Note 3 Current Liabilities

Accounts Payable ₱ 120,000
Notes Payable 55,000
Intere s t Pa ya bl e 500
Sa l e s Sa l a ri e s Pa ya bl e 4,000
Accrue d Di re ct La bor 10,000
Tota l Curre nt Li a bi l i ti e s ₱ 189,500

Closing Entries
ABC Corporation
Closing Entries
Date Accounts
2016 Debit Credit
Dec 31 Cost of Goods Manufactured ₱ 570,800
Raw Materials, Dec 31 50,000
Goods in Process, Dec 31 40,000
Raw Materials Returns and Allowances 3,000
Raw Materials, Jan 2 ₱ 30,000
Goods in Process, Jan 2 35,000
Purchases of Raw Materials 150,000
Freight-in 10,000
Direct labor 130,000
Indirect labor 65,000
Factory Repairs and Maintenance 35,000
Factory Property Taxes 10,500
Factory Insurance 10,000
Utilities Expense -Factory 10,800
Salaries of other Factory personnel 25,000
Depreciation-Machinery 32,500
Depreciation- Factory (building) 120,000
To summarize factory accounts to Cost of Goods Manufactured
and to set up the ending inventories.

Revenue and Expense Summary 570,800

Cost of Goods Manufactured 570,800
To charge RES with the Cost of goods Manufactured.

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Accounting for Manufacturing Operations

ABC Corporation
Closing Entries (continued)
Date Accounts
2016 Debit Credit
Dec 31 Sales ₱ 1,400,000
Interest Income 3,000
Finished Goods Inventory, Dec 31 100,000
Finished Goods Inventory, Jan 2 ₱ 75,000
Sales Returns 3,000
Sales Discount 2,500
General and Administrative Expenses 95,000
Interest Expense 2,500
Depreciation-Office (Building) 7,500
Depreciation - Sales Section (Building) 22,500
Depreciation-Delivery Equipment 20,000
Depreciation-Office furniture 5,000
Depreciation-Office Equipment 7,500
Doubtful Accounts Expense 2,350
Utilities Expense-Sales Area 3,600
Utilities Expense- Office 3,600
Sales Salaries and Commission 84,000
Other Selling Expenses 15,000
Advertising Expense 7,000
Revenue and Expense summary 1,146,950
To summarize the income and expense accounts and to
set up Finished Goods end.

Revenue and Expense Summary 576,150

Retained Earnings 576,150
To close net income for the year to Retained Earnings

Post-closing Trial Balance

ABC Corpora ti on
Pos t-Cl os i ng Tri a l Ba l a nce
De ce mbe r 31, 2016

Cash ₱ 180,000
Accounts Receivable 47,000
Allowance for Doubtful Accounts ₱ 4,350
Finished Goods Inventory 100,000
Goods in Process Inventory 40,000
Raw materials Inventory 50,000
Pre pa i d Adve rti s i ng 3,000
Pre pa i d Fa ctory I ns ura nce 5,000
Land 800,000
Building 1,500,000
Accumulated Depreciation-Building 300,000
Machinery 650,000
Accumulated Depreciation-Machinery 65,000
Delivery Equipment 100,000
Accumulated Depreciation-Del. Equipment 40,000
Office Furniture 50,000
Accumulated Depreciation- Office Furniture 10,000
Office Equipment 75,000
Accumulated Depreciation-Office Equipment 15,000
Accounts Payable 120,000
Notes Payable 55,000
Mortgage Payable 300,000
I nte re s t Pa ya bl e 500
Sa l e s Sa l a ri e s Pa ya bl e 4,000
Accrue d Di re ct La bor 10,000
Capital Stock 1,500,000
Retained Earnings 1,176,150
Tota l ₱ 3,600,000 ₱ 3,600,000
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Accounting for Manufacturing Operations

Glossary
Cost of goods manufactured: the total costs incurred for the finished goods completed
during the period.
Manufacturing: production of goods or merchandise.
Manufacturing costs: costs of producing a finished good.
Non-manufacturing costs: costs incurred outside the creation of a finished product.

References and Supplementary Materials

Books and Journals
Cabrera, ME. B. (2010). Fundamentals of Accounting 1.Manila, Philippines: GIC
Enterprises and Co., Inc.

Horngren, C. T., Harrison, W. T. Jr., Bamber, L. S., (2002). Accounting (International

Edition). New Jersey, USA: Prentice Hall

Garcia, P.C., Mojar, B.Q. & Gemanil, B. A. (2006).Basic Accounting Concepts and
Procedures. Quezon City, Philippines: Rex Book Store, Inc.

Kimwell, M. B. (2009). Fundamentals of Accounting (Second Edition). Manila, Philippines.

GIC Enterprises and Co., Inc.
Online Supplementary Reading Materials
Accounting For A Manufacturing Business | Small Business Guide | Xero
https://www.xero.com/my/.../small...accounting/manufacturing-accounting/
Accessed: March 15, 2017

Accounting by Manufacturing Companies - Cliffs Notes

https://www.cliffsnotes.com/.../accounting/accounting...accounting.../accounting-by-...
Accessed: March 15, 2017

Inventory Accounting: A Comprehensive Guide: Steven M. Bragg ...

https://www.amazon.com/Inventory-Accounting-Comprehensive.../dp/0471356425
Accessed: March 15, 2017
Online Instructional Videos
Manufacturing Accounts - YouTube
https://youtube.com/watch?v=Eb5tc4YA8k0
Accessed: March 17, 2017

Principles of Accounts- Manufacturing Account.wmv - YouTube

https://www.youtube.com/watch?v=SZyJd3RH65w
Accessed: March 17, 2017

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