prepare a statement showing cost and profit from the following details clearly showi 555949

Prepare a statement showing cost and profit from the following details, clearly showing (a) prime cost, (b) works cost, (c) cost of production, (d) cost of sales and (e) profit:

Particulars

Rs

Particulars

Rs

Direct wages

1,50,000

Directs materials

5,00,000

Power

2,500

Oil and water

2,500

Storekeeper wages

5,000

Transfer to general reserve

5,000

Factory Rent

25,000

Foreman’s Salary

12,500

Office Rent

12,500

Factory Lighting

7,500

Repairs

Office Lighting

2,500

Factory plant

17,500

Depreciation:

Office building

2,500

Factory plant

2,500

Goodwill written off

2,500

office building

6,250

Consumables stores

12,500

Managers salary

25,000

Director’s fees

6,250

office stationary

2,500

telephone rent

625

postage

1,250

salespeople’s salaries

6,250

Travelling expenses

2,500

Advertising

6,250

warehouse rent

2,500

Income tax

50,000

Dividend paid

10,000

sales

947,500

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