From the following particulars of a manufacturing firm, prepare a statement showing (a) cost of materials used, (b) works cost, (c) cost of production, (d) percentage of works overhead to productive wages and (e) percentage of general overhead to works cost.
|
Stock of materials on 1 January 2009 |
40,000 |
|
Purchase of materials in January 2009 |
11,00,000 |
|
Stock of finished goods on 1 January 2009 |
50,000 |
|
Productive wages |
5,00,000 |
|
Finished goods sold |
24,00,000 |
|
Works overhead |
1,50,000 |
|
Office and general expenses |
1,00,000 |
|
Stock of material on 31 December 2009 |
1,40,000 |
|
Stock of finished goods on 31 December 2009 |
60,000 |