Manufacturing and P & L Account Rs To Opening Stock: Materials Finished Goods To Purchase of Raw Materials To Direct Wages To Power

To Carriage Inwards To Royalty To Cost of Special Design To Gross Profit c/d To Rent and Rates Office Factory To Telephone To Advertisement To Electricity Office Factory To Provision for Bad Debts To Income Tax To Salaries To Donation To Establishment Expenses To Depreciation on Office Furniture Factory Furniture Plant and Machinery Delivery Van To Rent of Warehouse To Net Profit 2,000 3,000 By Sales To Closing Stock: 5,000 Materials 150,000 Finished Goods 120,000 15,500 2,000 24,000 5,000 200,000 521,500 By Gross Profit c/d By Interest and Loan 12,000 By Sale of Scrap 3,000 By Discount Received 7,500

18,500 3,000

5000 7000

3,000 4,500

7,500 10,000 12,000 25,000 7,000 10,000 2,500 2,000 6,000 2,000 6,500 94,000 207,000

Rs 500,000

21,500

521,500 200,000 4,500 750 1,750

207,000

Manufacturing and P & L Account Rs To Opening Stock: Materials Finished Goods To Purchase of Raw Materials To Direct Wages To Power To Carriage Inwards To Royalty To Cost of Special Design To Gross Profit c/d To Rent and Rates Office Factory To Telephone To Advertisement To Electricity Office Factory To Provision for Bad Debts To Income Tax To Salaries To Donation To Establishment Expenses To Depreciation on Office Furniture Factory Furniture Plant and Machinery Delivery Van To Rent of Warehouse To Net Profit 2,000 3,000 By Sales To Closing Stock: 5,000 Materials 150,000 Finished Goods 120,000 15,500 2,000 24,000 5,000 200,000 521,500 By Gross Profit c/d By Interest and Loan 12,000 By Sale of Scrap 3,000 By Discount Received 7,500

18,500 3,000

5000 7000

3,000 4,500

7,500 10,000 12,000 25,000 7,000 10,000 2,500 2,000 6,000 2,000 6,500 94,000 207,000

Rs 500,000

21,500

521,500 200,000 4,500 750 1,750

207,000

Cost Sheet of for the period ended . Rs Direct Materials Consumed Opening stock of raw materials Add Purcahse of raw materials Add Carriage on purchases Less: Closing stock of raw materials Direct wages Direct expenses Prime Cost Add factory overheads Less: sale of scrap Add work in progress (Beginning) Less: work in progress (Closing) Works Cost or Factory Cost Add Administration overheads Cost of Production of Goods Sold Add opening stock of finished goods Less: closing stock of finished goods Cost of Goods Sold Add selling and distribution overheads Cost of Sales or Total Cost Net Profit Sales XXX XXX XXX XXX XXXX Rs Cost p.u. Rs.

XXXX XXXX XXXX XXXX XXXX XXXX XXX XXXX XXX XXXX XXX XXXX XXXX XXXX XXX XXXX XXX XXXX XXXX XXXX XXXX XXXX

XX XX XX XX XX

XX XX

XX XX XX XX

Cost Sheet of for the period ended . Rs Direct Materials Consumed Opening stock of raw materials Add Purcahse of raw materials Add Carriage inward / Carriage on purchases Less: Closing stock of raw materials Direct wages Direct expenses Prime Cost Add factory/works overheads Rent, Rates and Insurance of factory building Power, factory lighting and heating Dep. On plant and machinery Less: sale of scrap Add work in progress (Beginning) Less: work in progress (Closing) Works Cost or Factory Cost Add Administration overheads Office rent, rates and taxes, salaries of clerical staff, office stationery, Postage, Telephone, Telegram Expenses, Renumeration of Managing Director, General Manager, Bank Charges, Legal Expenses and Audit Fees Cost of Production of Goods Sold Add opening stock of finished goods Less: closing stock of finished goods Logs / Cost of Goods Sold Add selling and distribution overheads Salaries and Commission of Sales Manager, Advertising, Salesman Training Expenses, Cost of Samples, Bad Debts, Exhibition and Demo Expneses Distribution Expenses Expenses of Warehousing, Loading Charges, Carriage Outward, etc. Cost of Sales or Total Cost Net Profit Sales XXX XXX XXX XXX XXXX Rs Cost p.u. Rs.

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXX XXXX XXX XXXX XXX XXXX

XX XX XX XX XX

XX

XXXX XXXX XXX XXXX XXX XXXX

XX

XX

XXXX

XXXX XXXX XXXX XXXX XXXX

XX XX XX

Manufacturing Trading and Profit and Loss A/C For the Year Ending Dr. of ____________________ For the year ending ___________________Cr. Particulars To Opening Stock Raw Materials Work in Progress To Purchases of Raw Materials To Manufacturing Wages To Carriage Inwards To Other Factory Expenses To Opening Stock of Finished Goods To Cost of Finished Goods b/d To Gross Profit c/d To Gross Loss b/d To Office and Administrative Expenses To Interest and Financial Expenses To Provision for Income Tax To Net Profit b/d To Net Loss b/d To General Reserve To Dividend To Balance c/f Rs. Particulars By Cost of Finished Goods c/d xxx By Closing Stock xxx Raw Materials Work in Progress xxx xxx xxx xxx xxx By Sales xxx By Closing Stock Finished Goods xxx By Gross Loss c/d xxx xxx By Gross Profit b/d xxx By Miscellaneous Receipts xxx By Net Loss c/d xxx xxx xxx xxx By Balance b/d (from previous year) xxx By Net Profit b/d xxx xxx xxx

Rs xxx xxx xxx

xxx xxx xxx xxx xxx xxx xxx xxx

xxx xxx xxx

xxx

Statement of Profit and Loss of __________________for the year ending Particulars Incomes / Revenues Sales Interest and Dividends Discounts and Commissions received Miscellaneous Receipts Expenses Cost of Goods Sold Office and Administration Expenses Selling and Distribution Expenses Financial Charges Provision for Tax Net Profit/Loss Rs. xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Rs.

xxxxx xxxxx

Income statement of ____________________________for the year ending Particulars Sales Less: Sales Returns Sales Tax/Excise Duty Net Sales Cost of Goods of Sold Materials Consumed Direct Labour Manufacturing Expenses Add/Less Adjustment for change in stock Gross Profit = (1) - (2) Less: Operating Expenses Office and Administrative Expenses Selling and Distribution Expenses Operating Profit Add: Non-Operating Income Less: Non-Operating Expenses (including Interest) Profit Before Tax Less: Tax Profit After Tax Appropriations Transfer to Reserves Dividends declared / Paid Surplus carried to Balance Sheet Rs. xxx xxx (1) Rs. xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxx xxx

(2)

xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx

COGS=Opening Stock + Purchases + Direct Expenses - Closing Stock

Gross Profit = Net Sales - Total Cost of Goods Sold