Model: Cost sheet (value of stock to be computed)

Vasant Ltd manufactures a product. A summary of its activities for the year 2009–2010 is given below:

Units

Sales

1,00,000

10,00,000

Material, 1 April 2009

50,000

Material, 31 March 2010

35,000

Work-in-progress, 1 April 09

45,000

Work-in-progress, 31 March 10

60,000

Finished goods, 1 April 2009

20,000

1,00,000

Finished goods, 31 March 2010

40,000

Materials purchased

2,00,000

Direct labour

1,60,000

Manufacturing overhead

1,20,000

Selling expenses

1,10,000

General expenses

50,000

Prepare a cost sheet.

[B.Com (Hons), Delhi. Modified]