prepare detailed Cost Statement for the year ended 31-3-2021. Particulars Amt. Opening Stock – Raw Materials Finished Goods Purchases of raw Materials Direct Wages Power Carriage on Purchase of Raw Materials Cost Of Special Design Customs Duty and Octroi on Raw Materials Rent and Rates –Office Factory Telephone Expenses Advertisement Electricity -Office Factory Machinery Lost in Fire Depreciation –Plant and Machinery Delivery Van Income tax Salaries Donations Establishment expenses Rent of Showroom Interest on Loan Sale of Factory Scrap Dividend Received Directors Fees Mailing Charges of Sale Literature Closing Stock – Raw Materials Finished Goods 20,000 30,000 15,00,000 12,00,000 99,500 20,000 50,000 60,000 50,000 70,000 30,000 75,000 15,000 30,000 1,00,000 80,000 20,000 1,20,000 2,50,000 70,000 1,00,000 65,000 45,000 7,500 17,500 60,000 10,000 1,85,000 30,000 Other Information: (a) 60% of Telephone Expenses relate to Office and 40% to Sales Department. (b) Salaries to be allocated to the Factory, office and sales department in the ratio of 1:2:1. (c) Establishment Expenses are to be apportioned equally between office and sales department. (d) Sales are made to earn profit @20% on selling price.
From the following information, prepare detailed Cost Statement for the year ended 31-3-2021.
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Particulars |
Amt. |
|
Opening Stock – Raw Materials Finished Goods Purchases of raw Materials Direct Wages Power Carriage on Purchase of Raw Materials Cost Of Special Design Customs Duty and Octroi on Raw Materials Rent and Rates –Office Factory Telephone Expenses Advertisement Electricity -Office Factory Machinery Lost in Fire Delivery Van Income tax Salaries Donations Establishment expenses Rent of Showroom Interest on Loan Sale of Factory Scrap Dividend Received Directors Fees Mailing Charges of Sale Literature Closing Stock – Raw Materials Finished Goods |
20,000 30,000 15,00,000 12,00,000 99,500 20,000 50,000 60,000 50,000 70,000 30,000 75,000 15,000 30,000 1,00,000 80,000 20,000 1,20,000 2,50,000 70,000 1,00,000 65,000 45,000 7,500 17,500 60,000 10,000 1,85,000 30,000 |
Other Information:
(a) 60% of Telephone Expenses relate to Office and 40% to Sales Department.
(b) Salaries to be allocated to the Factory, office and sales department in the ratio of 1:2:1.
(c) Establishment Expenses are to be apportioned equally between office and sales department.
(d) Sales are made to earn profit @20% on selling price.
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