Q. 27. From the given information of a hospital, calculate the amount of medicine of 34.000 29.000, 86,000 39,000 consumed during the year 2018-19: Particular Creditors for medicines purchased : On 1.4.2018 On 31.3.2019 Stock of Medicines : On 1.4.2018 On 31.3.2019 Advance to suppliers of medicines : On 1.4.2018 On 31.3.2019 Credit Purchases of Medicines during the year + Cash Purchases of Medicines during the year 26,000 32,000 4,99,000 2,20,000 (C.B.S.E. 2020, Rajasthan Modified) (Ans. Amount of Medicines Consumed during the year ₹7,66,000.]
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Answer:
ans.Q. 27. From the given information of a hospital, calculate the amount of medicine of 34.000 29.000, 86,000 39,000 consumed during the year 2018-19: Particular Creditors for medicines purchased : On 1.4.2018 On 31.3.2019 Stock of Medicines : On 1.4.2018 On 31.3.2019 Advance to suppliers of medicines : On 1.4.2018 On 31.3.2019 Credit Purchases of Medicines during the year + Cash Purchases of Medicines during the year 26,000 32,000 4,99,000 2,20,000 (C.B.S.E. 2020, Rajasthan Modified) (Ans. Amount of Medicines Consumed during the year ₹7,66,000.]
Concept:
- Material Consumed is the amount of material utilized for production during the year.
- It is calculated as follows:
Material consumed = Opening stock + Purchases - Closing stock
- The purchases include credit as well as cash purchases.
- In case of a hospital, medicines are considered to be one of the raw material to provide the services.
Given:
- Opening creditors= 34000
- Closing creditors=29000
- Opening stock=86000
- Closing Stock=29000
- Advances paid in 2018=26000
- Advances paid in 2019=32000
- Total purchases=719000
Find: Total Medicines Consumed
Solution:
Medicines Consumed = Purchases + Advances paid in 2018 - Advances paid in 2019 +closing creditors - opening creditors + opening stock - closing stock
Materials Consumed = 719000+26000-32000+29000-34000+86000-32000
Materials consumed = 762000
Hence, the medicines consumed in the hospital are worth Rs. 762000
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