The following extracts of costing information related to commodity ‘A’ for the half year ending 31-12-2009:
|
Purchase of raw materials |
1,20,000 |
|
Work overheads |
48,000 |
|
Direct wages |
1,00,000 |
|
Carriage on Purchases |
1,440 |
|
Stock as on 1st July 2009: |
|
|
Raw materials |
20,000 |
|
Finished Products (1,000 tons) |
16,000 |
|
Work-in-progress |
4,800 |
|
Stock as on 31st December 2009: |
|
|
Raw materials |
22,240 |
|
Finished Products (2,000 tons) |
32,000 |
|
Work-in-progress |
16,000 |
|
Sales – Finished Products |
3,00,000 |
Selling and distribution overheads are Re 1. per ton sold. 16,000 tons of commodity were produced during the period You are to ascertain (a) cost of raw materials used (b) cost of output for the period (c) cost of sales (d) net profit for the period and (e) net profit per ton of the commodity.