Cost Sheet Exercise 1

Cost and Management Accounting

2008 – 2010

1) Prepare a cost sheet from the following data to find out profit (Amt. In Rs.) a) Opening Stock of R.M – 5000 c) Closing Stock of R.M – 4000 e) Raw materials purchased – 50000 g) Chargeable expenses – 7000 i) Power – 6000 k) Factory insurance – 8000 m) Office salaries – 20000 o) Salaries of salesman – 12000 q) Sales - 200000

b) Opening Stock of F.G – 4000 d) Closing Stock of F.G – 5000 f) Wages paid to labourers – 20000 h) Rent, rates and taxes – 5000 j) Factory heating & lighting – 5000 l) General expenses – 3000 n) Office printing & stationery – 5000 p) commission of travel agents – 4000

2) Prepare a cost sheet from the following data to find out profit and cost per unit ( Amt. In Rs.) a) Raw materials consumed - 160000 b) Direct Wages - 80000 c) Factory O/H –16000 d) Office overheads – 10% of Factory cost e) Selling O/H – 120000 f) Units produced – 4000 g) Units sold – 3600 h) Selling price – Rs.100 per unit.

3) Prepare a cost sheet from the following data to find out cost of production and cost per unit of goods manufactured by a company. ( Amt. In Rs.) a) Op. stock of R.M – 3000 b) Raw materials purchased – 28000 c) Cl. Stock of R.M – 4500 d) Manufacturing wages – 7000 e) Depr. On plant – 1500 f) Loss on sale of part of plant – 300 g) Factory rent & rates – 3000 h)office rent – 500 i) General expenses – 400 j) Discount on sales – 3000 k) Advt. Expenses – 5500 l) Income tax paid – 2000 Number of units produced during the month was 3000. Op.Stock of finished goods was 200 valued at Rs.2800. Cl.stock of F.G. was 400 units.

Cost and Management Accounting

2008 – 2010

4) The accounts of Z ltd for the yr ended 31st March 2008 gives the following details. You are required to prepare a cost statement for the year ended 31st March 2008. ( Amount in Rs.)

Works office salaries Administrative office salaries Carriage Outward Carriage Inward Repairs to Plant & Machinery Rents, Rates, Taxes, Insurance etc Factory Office Sales Stock of Raw Materials 1st April 07 31st March 08 Materials Purchased Travelling Expenses Travelers Salaries and Commission Productive Wages Depreciation on Plant & Machinery Depreciation on Office Furniture Directors Fees Gas & Water (Factory) Gas & Water (Office) Managers salary (1/4 office & ¾ Factory) General Expenses

6500 12600 4300 7150 4450 8500 2000 461000 48000 62000 185000 2100 7700 126000 6500 300 6000 1200 400 10000 3400