From the following information relating to Sharma Industries Ltd. For the year ending 31st March, 2016, you are required to prepare statement of cost showing a) Prime Cost b)Factory Overhead c) Factory Cost d) Total Cost e) Profit & Loss for the period assuming the company manufactured 5,000 units and sold 4,500 units. There was no opening stock of finished goods. Particulars Rs. Direct wages Direct materials purchased 2,40,000 3,22,000 13,000 Purchase returns Drawing office salaries Carriage on direct materials Chargeable expenses on materials 3,100 4,200 2,800 2,400 Provision for bad debts Office Expenses Factory rent and rates Depreciation on plant 6,400 14,600 8,600 Showroom rent 3,000 Misc. Selling Expenses 3,200 Office Lighting 900 Factory Gas and water 3,400 Power 2,800 Factory cleaner Salesman Travelling expenses Showroom telephone expenses Labour welfare expenses Sale of scrap Factory Supervision 2,000 6,000 1,500 4,600 450 3,500 640,000 Sales
From the following information relating to Sharma Industries Ltd. For the year ending 31st March, 2016, you are required to prepare statement of cost showing a) Prime Cost b)Factory Overhead c) Factory Cost d) Total Cost e) Profit & Loss for the period assuming the company manufactured 5,000 units and sold 4,500 units. There was no opening stock of finished goods. Particulars Rs. Direct wages Direct materials purchased 2,40,000 3,22,000 13,000 Purchase returns Drawing office salaries Carriage on direct materials Chargeable expenses on materials 3,100 4,200 2,800 2,400 Provision for bad debts Office Expenses Factory rent and rates Depreciation on plant 6,400 14,600 8,600 Showroom rent 3,000 Misc. Selling Expenses 3,200 Office Lighting 900 Factory Gas and water 3,400 Power 2,800 Factory cleaner Salesman Travelling expenses Showroom telephone expenses Labour welfare expenses Sale of scrap Factory Supervision 2,000 6,000 1,500 4,600 450 3,500 640,000 Sales
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...
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