Reference no: EM132618846
Opening Stock:
(i) Raw Material 40,350,
(ii) Work-in-Progress 15,000 and
(iii) Finished Stock 35,590.
Materials purchased 2,50,000,
Wages paid 2,00,000,
Carriage inward 2,000,
Consumable Stores 10,000,
Wages of Storekeeper 7,000,
Depreciation of Plant & Machinery 10,000,
Materials destroyed by Fire 5,000,
Repairs & Renewals 5,010,
Office Manager's Salary 10,000,
Salary to Office Staff 20,500,
Printing & Stationary 10,000,
Power 10,500,
Lighting for Office Building 2,000,
Carriage outward 3,000,
Freight 5,000,
Entertainment 2,500,
Warehousing charges 1,500,
Legal charges 2,000,
Expenses for participating in Industrial exhibition-6,000.
Closing Stock:
(i) Raw material 35,000,
(ii) Work-in-Progress 14,500, and
(iii) Finished Stock 40,030. Profit 25% on cost.
Problem 1: Calculate:
Product cost, Period cost, Prime cost, Factory cost, Cost of Goods sold, profit, Total cost, Variable cost, fixed cost, Break-even point.
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