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On 30 June 2013 ABC Ltd showed following actual costs for the financial year just ended: Direct material used $450 000 Direct labour 200 000 Manufacturing overhead 400 000 The company's planned overhead rate is 150% of direct labour cost. The balances of inventory on 1 July 2012 were as follows: Raw material $50 000 Work in process 65 000 Finished goods 71 000 Each of those inventory balances was 10% lower on 30 June 2013.
Required:
Question 1: Prepare Schedule of Cost of Goods Manufactured for the financial year
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