1. The following data have been extracted from the Books of M/s. Tribeni Industries Ltd. for the
calendar year 2019:
Rs.
Opening stock of raw materials
25,000
Purchase of raw materials
85,000
Closing stock of raw materials
40,000
Carriage
inward
5,000
Wages: Direct
75,000
Indirect
10,000
Other direct charges
15,000
Rent and rates: Factory
5,000
Office
500
Indirect consumption of material
500
Depreciation: Plant etc.
1,500
Office furniture
100
Salary: Office
2,500
Salesmen
2,000
Other factory expenses
5,700
Other office expenses
1,100
Managing director's remuneration
12,000
1,000
1,100
Other selling expenses
Travelling expenses of salesmen
Carriage and Freight outward
Sales
1,000
2,50,000
Advance income tax paid
15,000
2,000
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Answers
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Answer:
COST SHEET
Particulars Total cost
Opening stock of raw material 25000
Add Purchases 85000
Carriage inward 5000 90000
Less Closing stock of raw material 40000
Direct wages 75000
Direct charges 15000 (130000)
Prime cost (15000)
Add works or factory overhead
Indirect wages 10000
Rent and rates 5000
Indirect consumption of material 500
Depreciation of plant etc. 1500
Other factory expenses 5700
Managing director remuneration 12000
Works cost 19700
Add office and administration overheads
Office rent and rates 500
Depreciation on office furniture 100
Office salaries 2500
Other office expenses 1100
Cost of goods sold 23900
Add selling and distribution overhead
Salesmen salaries 2000
Other selling expenses 1000
Carriage and freight outward 1000
Advertisement 2000
Travelling expenses of salesmen 1100
Total cost 31000
Profit or loss 219000
Sales 250000
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