X Ltd produces 3 product lines (A, B and C). The company's information for the month of August 2023, is provided as follows:
Product A Data:
- Particulars Ugx Materials at the beginning of the month 14,000,000
- Wages 16,000,000
- Material purchases during the month 20,000,000
- Defective material (scrap) 200,000
- Raw material at the end of the month 6,000,000
- Carriage inwards 800,000
- Overhead costs:
Particulars Ugx Indirect wages 2,000,000
Overtime 400,000
Stores 800,000
Loose items 200,000
Depreciation 600,000
Insurance 1,200,000
Inspection fee 400,000
Manager's salary 4,000,000
Supervision expenses 3,400,000
Cleaning charges 1,200,000
Required:
Prepare a statement to classify the costs in direct and indirect costs ( realistic , give me the necessary steps , use accounting tables)
