Question

From the following particulars for the year ended 31.12.18, prepare a Cost Sheet showing various elements of cost : Particulars Stock as on 1.1.18 » 12,500 Raw materials 15,000 3,000 ✓ 18,000 60,000 1,10,000 5,000 5,000 70,000 25,000 1,35,000 2 Work-in-progress At prime cost Add : Manufacturing cost Finished goods (8,000 units) Raw materials purchased Freight on purchase of raw materials Loss of materials by fire Factory expenses Chargeable expenses Direct labour Administration expenses (per unit) Selling expenses (per unit) Distribution expenses Sales of finished goods (28,000 units) Stock as on 31.12.18 Raw materials Work-in-progress At prime cost Add : Manufacturing cost Finished goods (10,000 units). Assume sales are made on FIFO basis. 1 15,000 4,00,000 20,000 10,000 8,000 18,000 ? Sa​

Answer 1

Answer:

Works Cost = Prime Cost + Factory Overheads + Opening Stock of Work-in-Progress at Factory Cost-Closing Stock of Work-in-Progress at Factory Cost.