From the following information prepare a statement of cost. Stock as on April 1, 2018 Units in Kgs Amount in & Raw material 2000 4,000 Factory Stores 8,000 Finished goods 500 2,000 Purchases: Raw material 180000 360,000 Factory stores 32,000 Sales: ‘inished goods 175000 1,750,000 Factroy Scrap 20,000 Wages 250,000 Power 20000 Depreciation on machinary 40000 Office stationery 2000 Salaries: Factory 80000 Salesman 40000 Office 30000 Expenses: ct 16000 Office 18000 Selling and Distribution 20000 Stock as on March 31, 2019 Raw material 1500 Factory Stores 6000 Finished goods 1000 Finished goods at the end of the year valued at factory cost. Purchase price remains same throughout the yearStatement of Cost for the year 2018 Particulars Units in kgs| Amount in 2| ‘Opening stock of raw materials, 2000 4000} Purchase of raw materials 180000 360000] Less Closing stock of raw materials, -1500 -3000 Raw materials consumed 180500 361000] Direct wages 250000] Direct expenses 16000 Prime Cost 180500 627000] Factory Expenses: Power 20000 salary 80000 Depreciation 40000 140000 Factory stores consumed: (Opening stock 8000 Purchase 32000 Closing sotck (6000) 34000| Less Sale of factory scrap -5000 -20000 Factory Cost 175500 781000] [Adiministrative Expenses: Office expenses 18000 Salary 30000 Stationary 2000 0000| Cost of Production 175500 831000] (Opening stock of finished goods 500 2000] Less Closing stock of finished goods -1000 -4450 Cost of Goods Sold 175000 828550| Selling & Distribution Expenses: Selling & Distribution 20000 salary 40000] 60000| Cost of Sales 175000 388550] Profit 861450] Sales 175000 1750000 Working notes (1)Value of closing stock of raw materials Purchase of raw materials 180000 360000] Purchase price (360000/180000) 2 (Closing stock of raw materials 1500 30000|Statement of Cost for the year 2018 Particulars Units in Kgs Amonut in & Opening stock of Raw materials 2000 4000 Purchase of raw materials 180000 360000 Less cosing stock of raw materials -1500 -3000 Raw materials consumed 180500 361000 Direct wages 250000 Direct expenses 116000 Prime Cost 180500 627000 Factory Expenses: Power 20000 Salary 80000 Depreciation 40000 140000 Factory stores consumed: Opening Stock 8000 Purchase 32000 Closing stock (6000) 34000 Less Sale of factory scrap -20000 781000 Working notes (1) Value of closing stock of raw materials Purchase of raw materails 180000 360000 Purchase price (360000/180000) 2 value of closing stock of raw materails (1500*2) 3000