From the following particulars, prepare a statement showing the components of total sales and the profit for the year ending on 31 December.
|
Rs |
|
|
Stock of finished goods (1 January) |
6,000 |
|
Stock of raw materials (1 January) |
40,000 |
|
WIP (1 January) |
15,000 |
|
Purchase of raw materials |
4,75,000 |
|
Carriage inwards |
12,500 |
|
Factory rent, taxes |
7,250 |
|
Other production expenses |
43,000 |
|
Stock of finished goods (31 December) |
15,000 |
|
Wages |
1,75,000 |
|
Works manager’s salary |
30,000 |
|
Factory employees’ salary |
60,000 |
|
Power expenses |
9,500 |
|
General expenses |
32,500 |
|
Sales for the year |
8,60,000 |
|
Stock of raw materials (31 December) |
50,000 |
|
WIP (31 December) |
10,000 |