The following information has been obtained from the records of ABC Co. Ltd. For the month of January, 2011:
|
Rs |
|
|
Cost of raw materials on 1/01/2011 |
30,000 |
|
Purchase of raw materials during the month |
4,50,000 |
|
Wages paid |
2,30,000 |
|
Factory overheads |
92,000 |
|
Cost of work in progress on 1/01/2011 |
12,000 |
|
Cost of raw materials on 30 /01/2011 |
25,000 |
|
Cost of work in progress on 30 /01/2011 |
15,000 |
|
Cost of stock of finished goods on 1 /01/2011 |
60,000 |
|
Cost of stock of finished goods on 30 /01/2011 |
55,000 |
|
Administration overheads |
30,000 |
|
Selling and distribution overheads |
20,000 |
|
Sales |
9,00,000 |
Prepare: (i) Cost sheet showing the cost of production of goods manufactured, and (ii) Statement showing the cost of sales and the profit earned.