Question

The following information relates to the manufacture of a product

during a month:

Raw Materials consumed ₹ 20000

Direct wages ₹ 12000

Machine hours worked 1000 hours

Machine hour rate ₹ 2 per hour

Office overhead 20% on works cost

Selling overhead ₹ 0.40 per unit

Units produced 20000 units

Units sold at ₹ 3 each, 18000 units

Prepare a Cost Sheet and show (a) Prime Cost (b) Work Cost (c) Cost of

Production (d) Cost of Goods sold (e) Cost of Sales (f) Profit​

Answer 1

Answer:

determining the cost of production of excisable goods used for captive ... Page 2. Working note : `. Opening stock of raw material. = 50,000 ... hour, and the machine hour rate is ` 1.50.