COST ACCOUNTING COST SHEET PROBLEMS: 1. From the following particulars prepare cost sheet: Direct materials Rs.

8000 Direct Wages Rs.6000 Direct Expenses Rs.2500 Administrative Overheads Rs.4000 Factory Overheads Rs.5000 Sales Rs.40000 2. From the following particulars prepare a statement showing a. Raw materials consumed b. Prime Cost c. Works Cost d. Cost of Production e. Profit. 1.1.06 31.1.06 Rs. Rs. Raw materials 20,000 32,000 Work-in-progress 26,500 14,000 Purchase of raw materials 90,000 Carriage inwards 2,000 Direct wages 40,000 Chargeable expenses 15,000 Works overheads 22,500 Administrative overheads 10,000 Selling & distribution overheads 14,000 Sales 2,20,000 3. Calculate the cost of raw materials purchased from the following data. Rs. Opening stock of raw materials 20,000 Closing stock of raw materials 30,000 Expenses on purchases 10,000 Direct wages 50,000 Prime Cost 1,50,000 4. Prepare a statement of cost and profit from the following data. Rs. Opening stock of raw materials 10,000 Purchases of raw materials 40,000 Materials returned to supplier 2,000 Closing stock of raw materials 8,000 Direct wages 20,000

Works on cost 25% on wagws; office on cost 20% on works cost: selling on cost 10% on works cost; profit 10% on cost. 5. In a factory, a standard product is manufactured.From the following particulars,prepare a cost sheet showing total cost and profit made. Raw materials consumed 30,000 Labour 60,000 Works overhead is charged @ 40% of works cost and office overhead is taken @ 20% on total cost. The standard product sold during the period is 180 units @ rs.1,200 each 6. In a factory,two types of fans are produced namely,popular and proxy. Ascertain the cost and profit per unit sold from the following particulars. Popular Proxy Rs. Rs. Material 8,200 9,450 Labour 4,450 4,900 Works overhead is 60% of labour and office overhead is 20% on works cost. The selling expenses per fan sold is re.1 .The selling price of popular fan is rs.275 and proxy fan is rs.400. 40 units of popular and 50 units of proxy are sold. There is no opening or closing stock or closing stock. 7. The following data relate to the manufacture of a product during the month of April: Raw materials consumed Rs.80,000 Direct wages Rs. 48,000 Machine hours worked 8,000 Machine hour rate Rs.4 Office overhead 10% on works cost Selling overhead Rs.1.50 per.unit Units produced 4,000 Unit sold 3,600 at Rs.50 each. Prepare a cost sheet and show a)Cost per unit and b)profit for the period. 8. The accounts of Z Manufacturing Company for the year ended December,2007 show the following: Rs. Factory Office Salaries 6,500 General office Salaries 12,600 Carriage outward 4,300 Carriage on Purchases 7,150 Bad debts written off 6,500 Repairs of Plant,Machinery and Tools 4,450 Rent,Rates,Taxes & Insurance: Factory 8,500 Office 2,000 Sales 4,61,100

Materials purchased 1,85,000 Travelling Expenses 2,100 Traveller’s Salaries & Commission 7,700 Productive Wages 1,26,000 Depreciation: Plant, Machinery & Tools 6,500 Furniture 300 Director’s Fees 6,000 Gas and water --- Factory 1,200 ---Office 400 Stock of Materials : 31st Dec.2006 62,800 st 31 Dec.2007 48,000 Income Tax 500 Manager’s salary(3/4 factory and 1/4 office) 10,000 General Expenses 3,400 Dividend 1,000 Prepare statement giving the following information: a. Materials consumed b.Prime Cost c.Factory Cost d.Cost of Production e.Total Cost f. Net Profit. . 9. The modern manufacturing company submits the following information on 31 st March 2005: Rs. Rs. Sales for the year 2,75,000 Inventories at the beginning of the year: Finished goods 7,000 Work-in-progress 4,000 Purchase of materials for the year 1,10,000 Materials Inventory: At the beginning of the year 3,000 At the end of the year 4,000 Direct labour 65,000 Factory overhead 60% of the direct labour cost Inventories at the end of the year: Work in progress Finished goods Other expenses for the year: Selling expenses 10% of sales Administrative expenses 5% of sales Prepare a statement of cost and profit. 6,000 8,000

10. From the following particulars, prepare a Cost Statement showing the components of Total Cost and the profit for the year ended 31 st December,2007. 1.1.2007 Rs. 6,000 40,000 15,000 31.12.2007 Rs. 15,000 50,000 10,000 4,75,000 12,500 1,75,000 30,000 60,000 7,250 9,500 43,000 32,500 8,60,000 500 1,000 5,000 10,000 10,000 16,000 9,250

Stock of finished goods Stock of raw materials Work-in-progress Purchase of raw materials Carriage inward Wages Works Manager’s salary Factory employees’salaries Factory rent,taxes and insurance Power expenses Other Production expenses General expenses Sales for the year Income tax Dividend Debenture Interest Transfer to sinking fund for replacement of machinery Goodwill written off Payment of Sales tax Selling expenses


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