Beta Engineering Works Manufactures a product. The following is the information provided by them for the year ended March 31, 2018. Particulars Amount 20,000 30,000 2,30,000 Opening Stock of Raw Materials Closing Stock of Raw Materials Productive Wages Opening Stock of Work in Progress Closing Stock of Work in Progress Opening Stock of Finished Goods (15,000 units) Goods available for sale Closing stock of Finished Goods Productive Wages due but not paid 50,000 40,000 1,20,000 13,35,000 90,000 20,000 1. Factory overheads are recovered at 100% of productive wages. 2. Administrative Overheads are recovered at the rate of Rs. 2/- per unit. 3. The company charges selling expenses at the rate of Rs. 3/- per unit. 4. The company has sold 1,40,000 units during the year out of the total stock of 1,50,000 units available for sale. 5. The company maintains a profit @ 20% on sales. You are required to prepare the cost for the year ended March 31,2018. Working notes form a part of the answer. Please show working notes wherever necessary.

Beta Engineering Works Manufactures a product. The following is the information provided by them for the year ended March 31, 2018. Particulars Amount 20,000 30,000 2,30,000 Opening Stock of Raw Materials Closing Stock of Raw Materials Productive Wages Opening Stock of Work in Progress Closing Stock of Work in Progress Opening Stock of Finished Goods (15,000 units) Goods available for sale Closing stock of Finished Goods Productive Wages due but not paid 50,000 40,000 1,20,000 13,35,000 90,000 20,000 1. Factory overheads are recovered at 100% of productive wages. 2. Administrative Overheads are recovered at the rate of Rs. 2/- per unit. 3. The company charges selling expenses at the rate of Rs. 3/- per unit. 4. The company has sold 1,40,000 units during the year out of the total stock of 1,50,000 units available for sale. 5. The company maintains a profit @ 20% on sales. You are required to prepare the cost for the year ended March 31,2018. Working notes form a part of the answer. Please show working notes wherever necessary.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12PB: The following data summarize the operations during the year. Prepare a journal entry for each...

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Please see attachment for the data Question : Determine the gross profit to be reported for 2014 Thanks in advance