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Day 1

Cost Sheet
Information for the January
Raw material Purchased 200000
Plant Purchased ( life =5) 420000
Direct Wages 85000
Royalty for using know-how 60000
Rent for factory building 30000
Rent for admin building 50000
Rent for show room 55000
Salary of admin staf 120000
Salary of factory manager 40000
Salesmen salary 60000
Units Produced 2000
Raw material Purchased ( 500 units) 50000
Direct labour 25000
Direct Expenses 15000
Factory Rent 60000
Administration Expenses 100000
Selling and Distribution Epenses 30000

Production and Sales ( units) 1000

With Inventory

Raw material Purchased ( 500 units) 50000


Direct labour 25000
Direct Expenses 15000
Factory Rent 60000
Administration Expenses 100000
Selling and Distribution Epenses 30000

Inventory information
Raw Material
Opening 0
Purchase 500
Used 400
Production ( factory level) 1000
WIP
Opening
Closing 300
Finished Goods (ready for sales)
Opening 0
Closing 100
Consumable Materials
Units Amount
Opening Stock 2000 20000
Purchases 10000 120000
Closing Stock 1000 12000

Direct wages 36000


Direct expenses 24000
Indirect wages 200% of direct wages
Administrative overheads 50% of cost of manufacturing
Selling and General 30% of COGS
Other information
Total Production 10000
Sales 9000 units at Rs.50 each
Opening stock of finished goods 3000 63000

Opening WIP 1000 20000


Closing WIP 2000

Required: Cost Sheet showing total and per unit cost


Business Transactions
Started Business with cash 200000
Availed 10% Loan 500000
Purchased RM 200000
Purchased Shares of X ltd 50000
Rent 25000
Factory 60%
Admin 40%
Salary 80000
Factory 30%
Admin 50%
Sales 20%

Electricity 26000
Factory 50%
Admin 20%
Sales 30%
Transport 18000
Purchase Related 10%
Sales Related 90%
Interest paid
Dividend Recived from X 15000
Units produced 2000
Sold all unit at price 400
Started business with cash of Rs. 100,000
Availed 10% loan: 300,000 and used the money to purchas plant
(life: 10 years)
Purchased raw material : 50000 units @ 5 on credit
Wages: 10,000 per month
Office Rent for month: 10000
Factory rent: 15000 per month
Factory manager salary: 18000 per month
Office manager’s salary: 20000 per month
Sales manager’s salary: 25000 per month
Production the first month: 10 000 units and entire stock sold @
100 for cash
Purchased shares for Rs. 20,000 and sold at the end of the month
for 21500

Required: Cost Sheet

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