COST SHEET

PROBLEM NO 2

The following details are available for the year ending 2004:
Rs.
Direct Wages 60,000
Purchase of Material 72,000
Indirect Materials 3,600
Indirect Wages 3,400
Office Salaries 7,200
Employer's Contribution to Employees State Insurance 600
Printing and stationery 1,200
Power and Fuel 5,400
Legal Charges 864
Office Rent 1,200
Sales (9,000 units) 1,80,000
Opening Stock :
Raw Materials 12,000
Work-in-Progress 2,880
Finished goods (600 units @ Rs.16.25 per unit)
Closing Stock :
Raw Materials 13,344
Work in Progress 9,600
Finished Stock (1,200 units) ?
Value the finished stock at cost of production.
Prepare a cost sheet showing different elements of cost.