no office and administration expenses were incurred during 1988 prepare a statement 555961

The following information was obtained from the cost records of Aditya Chemicals Ltd. for 1998:

Rs

Finished goods on 1 January 1998

50,000

Raw materials, 1 January 1988

10,000

WIP, 1 January 1988

14,000

Direct labour

1,60,000

Purchase of raw materials

98,000

Indirect labour

40,000

Heat, light and power

20,000

Factory insurance and taxes

5,000

Repairs to plant

3,000

Factory supplies

5,000

Depreciation—factory building

6,000

Depreciation—plant

10,000

Other information made available is

Factory cost of goods produced in 1988

2,80,000

Raw materials consumed in 1988

95,000

Cost of goods sold in 1988

1,60,000

No office and administration expenses were incurred during 1988. Prepare a statement of cost for the year ending on 1988 giving the maximum possible information and the detailed break up of cost.

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