Question

CASE 2: Preparation of Cost Sheet
(10 marks)
From the following particulars, prepare a cost sheet for the year ended 31.
December 2020
Particulars
Rs.
Stock on 1. Jan 2020
Raw materials
40,000
Finished goods
6,000
Work in Progress
15.000
Purchases of raw materials
4.75,000
Carriage inward
12,000
Factory rent
7,000
Direct expenses
43,000
Income Tax
10.000
Direct wages
1,75.000
Power expenses
10,000
General expenses
33,000
8,60.000
10,000
Sales for the year
Depreciation on Plant & Machinery
Stock on 31. Dec, 2020
Raw materials
Finished goods
Work in Progress
Office Rent
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50,000
15,000
10,000
20.000
12,000​

Answer 1

Answer:

On 31st March 2011, Manish received a bank statement which showed a credit

balance of Rs. 14,000. An examination of the cash book and bank statement revealed the

following:

(i) Cheques for Rs. 11,400 deposited with the bank for collection were credited by the

bank on 3.4.2011.

(ii) Cheques issued, but not presented for payment up to 31st March 2011 totalled Rs.

37,600.

(iii) A payment by cheque for Rs. 1,600 has been entered twice in the cash book.

(iv) On 30th March, 2011, the bank credited Rs. 20,000 to Manish by mistake.

(v) A bill of exchange for Rs. 10,000 was discounted by Manish with the bank. The bill

was dishonoured on the due date, but no entry had been made in the cash book till 31st

March, 2011.

(vi) Bank charges amounting to Rs. 580 had not been entered in the cash book.

Prepare a bank reconciliation statement.The number of bags of wheat sold in a grocer’s shop each day are shown in the following table. Find Q1 and

D4 for the number of bags sold.

No. of bag 25 – 29 30 - 34 35 – 39 40 – 44 45 - 49 50 - 54 55 & more

No. of days 9 17 32 24 10 5 3