Question

Statement of Cost and Profit
1. From the following particulars, prepare a cost statement for the year ende
2003 and show what percentage each item of cost bears to the total cost. Calculate
factory expenses at 20% on wages and office expenses at 60% on factory expenses :
Rs.
70,000
Opening Stock of Raw Materials
Purchases of Raw Materials
2,65,000
Closing Stock of Raw Materials
30,000
Freight on Purchases
5,000
Direct Wages
1,85,000
Abnormal Idle Time
15,000
Return of Defective Materials
2,000
(Answer: Cost of material consumed Rs. 3,08,000, % on total cost 57.85%
Rs. 1,70,000, % on total cost 31.93%
Factory expenses
Rs. 34,000, % on total cost 6.39%
Rs. 20,400, % on total cost 3.83%.)
Cullouing figures, prepare a statement of cost of a manufacturer :
Direct wages
Office expenses​

Answer 1

Answer:

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