Questions on cost sheet
Factory Office 1,500 500Rent Factory Office 5,000 2,500Commission to Salesman 1,250Advertising 1,250Income Tax 10,000 Sales1,89,500Q1. Prepare the cost sheet Q 2 Prepare a cost sheet for the year ended March 31,2009 Stock of finished goods ( April 1, 2008) 6,000Stock of raw materials (April 1, 2008) 40,000Work in Progress (April 1, 2008) 15,000Purchase of raw Material 4,75,000Carriage inwards 12,500Factory rent 7,250Other Production Expenses 43,000Wages 1,75,000Work Managers Salary 30,000Factory Employees Salary 60,000Power Expenses 9,500General Expenses 32,500Sales 8,60,000Stock of finished goods (March 31, 2009) 15,000Stock of raw materials (March 31,2009) 50,000Work in Progress (March 31,2009) 10,000 Q 3 Vijay Industries manufactures a product X. On April 1, 20X1, there were 5000 ( @ 12.50 per unit) units of finished product in stock. Other stocks on April 1. 20X1 were as follows Work in Progress 57,400 Raw Material 1,16,200 The information available from cost records for the year were as follows Materials Purchased9,06,900Direct Labor3,26,400Freight on raw material purchased 55,700Indirect Labor1,21,600Other factory overheads 3,17,300Stock of Raw materials on March 31, 20X2 96,400Work-in-progress as on March 31, 20x2 78,200Sales (1,50,000 units)30,00,000Indirect Materials 2,13,900Selling expenses @ 50 Paisa per unit sold There are 15000 units of finished stock in hand on March 31,20X2. You are required to prepare a statement of cost. Case Study - 1 Costra Ltd is into the manufacturing of toys for children. Following are the extracted figures from the cost records of Costra Ltd for the year 20X1. During 20X1 the company produced 1000 identical toys. Consumption of raw materials Rs. 20,000 Labor Cost