1. Prepare a combined schedule of cost of good manufactured and cost of sold statement for the month of July 2016. Show computations pertaining to the missing values for raw materials and WIP control...

1. Prepare a combined schedule of cost of good manufactured and cost of sold

statement for the month of July 2016. Show computations pertaining to the

missing values for raw materials and WIP control accounts.

2. Prepare an income statement for the month of July 2016. 2 Marks

3. Discuss the main differences between job costing and process costing. Hint: You

are required to use proper referencing.

4. Are monthly production reports an example of periodic or perpetual inventory

systems? Explain.