From the following particulars of a manufacturing company, prepare a statement showing (a) cost of materials used, (b) prime cost, (c) works cost, (d) percentage of works overheads to productive wages, (e) cost of production, (f) percentage of general overheads to works cost and (g) net profit:
|
Rs |
|
|
Stock of materials on 1 January 1985 |
20,000 |
|
Purchase of materials in January |
5,50,000 |
|
Stock of finished goods on 1 January 1985 |
25,000 |
|
Productive wages |
2,50,000 |
|
Finished goods sold |
12,00,000 |
|
Works overhead charges |
75,000 |
|
Office and general expenses |
50,000 |
|
Stock of materials on 31 January 1985 |
70,000 |
|
Stock of finished goods on 31 January 1985 |
30,000 |