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Prepare cost sheet and work out cost of sales and profit form the given information drawn from the books of Alfa India Led Rs. Rs. [Direct materials 1,00,000 | Depreciation: } Factory plan 500 Office premises 1250, Direct wages 25,000 Consumable stores, 2500 Direct expenses 3,000 Manager's salary 5000) Vages of foreman 2,500 Director's fees 1250 | (Electric power _ 50 | Office stationery 300) Lighting: Factory 1500 Telephone charges 125 Office 500 | | Storekeeper wages: 1000 Postage and telegram’ —j 250 Oil and water 500. Salesman’s salaries 1250 | Rent: Factory 5000 | Traveling expenses 500 Omice 2500 Repairs and renewals: ‘Advertising 1250 Factory plant 3500 Office promises 500 Carriage outwards 375 | Warehouse charges 500, ‘Transfer to reserves | 1000 Sales ~189500 Discount on shares 500 | Income tax 10,000 written off - Dividend 2000 The following information has been obtained from the records of Leit- Centre Corporation for the period from December! to December31, 2004. Particulai ‘| dec.1,2004(Rs,) | Dec.31.2004(Rs.) (Cost of Raw materials 30,000 25,000 Cost of WIP 12000 15000 Cost of stock of finished goods 60,000 35,000 [Transactions during the month: Purchases of Raw material 430,000 ‘Wages paid 2,30,000 Factory overheads [92,000 ae ‘Aciministration overheads 30,000 Selling and distribution overheads | 20,000 Sales 9,00,000 Prepare; (i) Cost sheet showing: a. Materials consumed . Prime cost ©. Factory cost incurred and total f ory cost; and (ij Income statement showing gross profit and net profit ‘The following extract of the costing information reletes to product ‘A’ {oc the half year ending 31* Dec.. 2004. __|Amt. (85)_| Particulars —_ [Amt (Rs) [Purchase oF raw 1,20,000 | Stock GT" Dee, 2004): materials Raw materials 22,240 Finished products 32,000 (2000 tons) Works overheads 48,000 W-Lp (I lly 2008 Direct wages 41,00,000 | W-I-P GT™ Dee.2004) | — ‘Cartage on pirchascs 1440 Sales Finished products) Stock (P*Tuly, 2005); Raw materiels 20,000 Finished products (1 16.000 tons) — |e Selling and distribution overheads are Rs | per tan sold. 16,000 tons of product were produced during the period. Required: “2, Cost of raw materials used -b- Cost of output for the period -€. Cost of sales ak: Net profit for the period, and © Net profit per ton of the product Particulars | Amt (Rs) [Particulars ‘Amvt. Bs.) 1 mele Bpeaing sick ofa 25,000 /Tndirect materials 300) as Purchases 85000 | Sean: Office - Selesmen- Tosing sek OOOO | Other factory exp [aviage invade 3.000 | Other office exp. 7 Manager's Sslary 75,000 10,000 15,000 ——}-—s,00} ‘300 Caaiage outwards 1,506 | Sales 2,50,000 Office Furniture — i Pe Aaivanes ts paid 15,000 ‘The manager has the overall charge of the company and his salary is ta be allocated at Rx 4000 tothe fsctory, Rs 2000 1 ofiee and Re 6,000 to the selling operations. Required: Propers a statement of cost showing; a Prime cost 1b, Factory vost © Cost of production a. Costof tales: ands Net profit