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.
|
Stock of materials on 01 March 2010 |
10,000 |
|
Purchase of materials in March |
2,75,000 |
|
Stock of finished goods on 1 March 2010 |
12,500 |
|
Productive wages |
1,25,000 |
|
Finished goods sold |
6,00,000 |
|
Works overheads |
37,500 |
|
Office and general overheads |
25,000 |
|
Stock of materials on 31 March 2010 |
35,000 |
|
Stock of finished goods on 31 March 2010 |
15,000 |