Model: Preparation of cost sheet
X Ltd manufactures a consumable product. From the following data relating to a year, you are required to prepare the cost sheet.
|
Materials (opening) |
30,000 |
|
Materials (closing) |
25,000 |
|
Work-in-progress (opening) |
50,000 |
|
Work-in-progress (closing) |
55,000 |
|
Finished goods (opening) |
60,000 |
|
Finished goods (closing) |
80,000 |
|
Materials purchased during the year |
1,20,000 |
|
Direct labour |
90,000 |
|
Manufacturing overhead |
80,000 |
|
Selling expenses |
40,000 |
|
General expenses |
32,000 |
|
Sales |
3,92,000 |