The following particulars have been extracted from the books of a manufacturing company for the month of March, 2011:
|
Rs |
|
|
Stock of materials as on 1st March, 2011 |
47,000 |
|
Stock of materials as on 31st March, 2011 |
50,000 |
|
Materials purchased during the month |
2,08,000 |
|
Drawing office salaries |
9,600 |
|
Counting house salaries |
14,000 |
|
Carriage on purchases |
8,200 |
|
Carriage on sales |
5,100 |
|
Cash discount allowed |
3,400 |
|
Bad debts written off |
4,700 |
|
Repairs of plant, machinery and tools |
10,600 |
|
Rent, rates, taxes and insurance (factory) |
3,000 |
|
Rent, rates, taxes and insurance (office) |
1,000 |
|
Travelling expenses |
3,100 |
|
Travellers‘ salaries and commission |
8,400 |
|
Productive wages |
1,40,000 |
|
Depreciation written off on plant, machinery and tools |
7,100 |
|
Depreciation written off on office furniture |
600 |
|
Directors‘ fees |
6,000 |
|
Gas and water charges (factory) |
1,500 |
|
Gas and water charges (office) |
300 |
|
General charges |
5,000 |
|
Manager‘s salary |
12,000 |
Out of 48 working hours in a week, the time devoted by the Manager to the factory and office was on an average 40 hours and 8 hours respectively throughout the month. 1,00,000 units were produced and sold; there was no opening or closing stock of it.
Prepare a cost sheet showing the following:
(i) Cost of Materials Consumed;
(ii) Prime Cost;
(iii) Works Overhead;
(iv) Works Cost;
(v) Office and Administration Overhead;
(vi) Cost of Production;
(vii) Selling and Distribution Overhead; and
(viii) Total Cost or Cost Sales.