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    Cost Sheet 1

    Uploaded by

    Bhavya Grover
    The document provides financial information for the year 2010, including opening and closing stock amounts, purchases, expenses, salaries, depreciation, sales, interest, and custom duty payments. It asks to prepare a cost sheet for 2010 using the data given, allocating the direct salary expense to factory, office, and selling departments in a specified ratio.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Cost Sheet 1

    Uploaded by

    Bhavya Grover
    38 views4 pages
    The document provides financial information for the year 2010, including opening and closing stock amounts, purchases, expenses, salaries, depreciation, sales, interest, and custom duty payments. It asks to prepare a cost sheet for 2010 using the data given, allocating the direct salary expense to factory, office, and selling departments in a specified ratio.

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    cost sheet 1

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    The document provides financial information for the year 2010, including opening and closing stock amounts, purchases, expenses, salaries, depreciation, sales, interest, and custom duty payments. It asks to prepare a cost sheet for 2010 using the data given, allocating the direct salary expense to factory, office, and selling departments in a specified ratio.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    38 views4 pages

    Cost Sheet 1

    Uploaded by

    Bhavya Grover
    The document provides financial information for the year 2010, including opening and closing stock amounts, purchases, expenses, salaries, depreciation, sales, interest, and custom duty payments. It asks to prepare a cost sheet for 2010 using the data given, allocating the direct salary expense to factory, office, and selling departments in a specified ratio.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    Q.1) From the following data, prepare a cost sheet for the year 2010.

    Particulars `

    Opening Stock of Raw Materials 3,00,000

    Purchases 8,00,000

    Closing Stock of Raw Materials 4,00,000

    Carriage Outward 50,000

    Wages Direct 7,00,000

    Wages Indirect 1,00,000

    Chargeable Expenses 2,00,000

    Rent and Rates: Factory 40,000

    Office 5,000

    Indirect Materials 15,000

    Drawing Office Salaries 10,000

    Depreciation: Plant 5,000

    Office Furniture 1,000

    Salary: Office 25,000

    Salesmen 20,000

    W.I.P.: 1-1-2010 20,000

    31-12-2010 10,000

    Sale of by Product 10,000

    Other Factory Expenses 57,000

    Other Office Expenses 9,000

    Managing Director's Remuneration 1,20,000

    Other Selling Expenses 10,000

    Art Work Charges 40,000

    Stock of Finished goods: 1-1-2010 10,000

    31-12-2010 50,000
    Traveling Expenses of Salesmen 11,000

    Carriage Inward 10,000

    Sales 30,00,000

    Advance Income Tax paid 1,50,000

    Advertisement 20,000

    M.D.’s remuneration to be allocated as 、40,000 to factory, 、20,000 to office and 、60,000 to sales.

    Q.2) Swadeshi Electronics Ltd. furnishes you the following information for the year ended 31st March,
    2012

    Production and Sales ( Unit) 15,000


    12,75,000
    Sales
    2,70,000
    Direct Wages
    3,30,000
    Direct Materials
    2,25,000
    Factory Overheads
    1,05,000
    Administrative Overheads

    Sales Overheads 90,000

    On account of intense competition following changes are estimated in the subsequent year:

    (a) Production and sales activity will be increased by one third.

    (b) Material rate will be lower by 25%. However, there will be increase in consumption by 20% due to
    quality difference.

    (c) Direct wages cost would be reduced by 20% due to automation.

    (d) Out of the above factory overheads, 、45,000 are of fixed nature. The remaining factory
    expenses are variable in proportion to the number of units produced.
    (e) Total administrative overheads will be lower by 40%.

    (f) Sales overheads per unit would remain the same.

    (g) Sale price per unit would be lower by 20%.

    Prepare a statement of cost for both the years ending 31st March, 2012 and 31st March, 2013
    showing maximum possible details of cost.
    Q.3) From the following date, prepare a Cost Sheet for the year 2010. Number of Units produced:
    10,000 Units.

    Particulars `

    Opening Stock of Raw Materials 3,00,000

    Purchase of Raw Materials 8,00,000

    Closing Stock of Raw Materials 1,00,000

    Carriage Outward 8,000

    Wages Indirect 20,000

    Salary:

    Office 50,000

    Sales Office 40,000

    Other Factory Expenses 50,000

    Trade Fair Expenses 20,000

    Depreciation:

    Factory 30,000

    Office 20,000

    Selling 20,000

    Direct Salary 50,000

    Advance Interest Received 40,000

    Custom Duty Paid for Purchase of Raw Material 5,00,000

    Debenture Interest Paid


    50,000
    Freight Inward 20,000
    Custom Duty Paid for Purchase of Plant 50,000

    Direct Wages 2,00,000

    Other Direct Charges 50,000


    5,000
    Goodwill Written-off

    Number of Units sold 8,000 units at cost plus 18% Profit

    Direct Salary is to be allocated to factory. Office and Selling in the ratio of 2:1:2.,

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