COST SHEET: 1) From the following particulars, prepare a Cost statement showing the comy cost and profit for the year ended 31* December 2020. 1/1/2020 31/12/2020 -| Stock of finished goods 6000 15000 Stock of raw materials 40000 | 50000 Work-in-progress 15000 10000 _| Partiew ‘Amt (@) | Particulars Purchase of raw materials 475000. Sales for the year Carriage inward 12500 | Income tax 500 | Wages an 175000 | Dividend 1000 Works Manager’ 30000 | Debenture interest Factory employees’ salaries 60000 * Transfer fo Sinking aig replacement of machinery —~| Factory rent, taxes and insurance | 7250 | Goodwill written off Power expenses 9500 | Payment of sales tax Other production expenses 43000 a General expenses 32500 Selling expenses 9250i AS) Pha ce I cad Qunehanon I Sasa eee hp Paclony Direct rele 0, 19 —_ ng “Stok 5, RM 3) Ohect ie a Work overheads fering Sih pees stock *- WLP cup Duel toe st) Aus Malnle | Pow Motertals consumed | ——| 50906‘ : weed i bel ~- r ' : . a) ’ t fiwia Pp, , ga) j 3 jow| i ‘ M i 130 “ s {et { The cost of sale of product ABB is made up as follows: ant ulars Amt (2) hi ly | rn ce ey | Materials used in manufacturing 6001 in i Materials used in primary packing 10000 i |_| Materials used in selling the product 1500 | Materials used in the factory 750 | Materials used in the office 1250 | [Labour required in producing 10000 aa Labour required for factory supervision 2000) Indirect expenses - Factory | Administra Expense —— at Depreciation on office building and equipments 750 Depreciation on Factory building 1750 Selling expenses 3500 Freight on materials purchased 5000 Advertising 1250 Assuming that all products manufactured are sold, what should be the selling ‘obtain a profit of 20% on selling price?FEE foston, —ovetboads — Wndijuek emponses - Fa haboux fe) Sale 4, —Svtap.—___-__________ | Makeritel ued ia 6 Ftackony tosh E ls 9 wip ae (el Pe Cs 4 Wp Re | Work test a |) __—as nee = er Adina Omspenres i ee {o ¢ls finshed Woods ht Mabewal wyed_ur J fice 2 ee [Dep on Khe. Putldung ao Cost J pred lo es O, Finsched joe chon Is tved fox factory Supervision | Qu on__facko: mp —Butlduig 1460 Beles |e Cost B Shins. %: Disaalee 7 i“ Spreng) ie ay Lee Direct material i F Direct Wages 28500 ~—— Factory rent and rates 500 ——_ Offide rent and rates 500 s Ritts! Plant repairs and maintenance 1000 in. Plant depreciation 1250 | ae Factory heating and lighting 400 hi Factory manager's salary 2000 ee Office salaries 1600) | Director’s remuneration 1500 I Telephone and postage ro 5 200gay | Printing & stationary 100 | | | Legal charges 4 } Advertisement 1500 ' a Salesmen’s salaries 2500 = Showroom rent 500 : ~| Sales 116000 a are Cost Shoot 4 ab on San a Pont edans A lds TT) Pyutnato ost: = | Bived Mecnuals es 54600 _| Diveck ae \.dssoo "| 4 Total Prime tost ‘4 Soétony Honk § Hater Plank repait %& marin tenance| __* Tela cost 8 pretuchon | —_Aduatisonont Solerman sellanus _| Shpwroom Honk Cost on sales | Gs enesedsy | Poy £ SuesDirect material = | 1,000 | 2,000 Direct wages [5,000 | 2,000 | 8,000 — Factory rent 4,00 _ 0 | Power i 2,50 cere) 0 4 Depreciation 1,00 ot a Other OH 9,00 a 0 ‘Additional information: Area (Sq. ft) 500 | 250 500 250, Capital value of assets(®. in lakh) 20 40 20 10 ~~~ | Machine hours: | 1,000 | 2,000 4,000 | 1,00 Ba | 4 Horse power of machines A Service dept X 45% Service oe Nd 60% | 35% ‘ae aliet rT Meee town | bog | vue | Se oka OF, | Diveck Wages [9500 | 2.900 | ton! ayoe | ifsarscay | Fatal Drimory Wirdiahdon a9 sop 453, 2564 Bex} fasts] | - lyase bees | ape | Beet . tha er e Ale tir Teele - Bee Ifas.et | | oe | pt ‘Ce fe 7 a Lealfind Peas ie aT 40 ee NM: 4395 + Dos essa A Ab Aye Sa Quine chitatoh Surenny und 4 eq.n mmodhod : _| ase, | pony | 5632 | | Yor | bat | /igas |___6)}_5) Surya industries Ltd. Has four departments. A, B and C are production departments, D is the servi © department. The actual expenses for a month were as follows: ——— Pete eps 6,000 | erst | Repairs to plant 3,600 ee Depreciation 2,700 | | Lighting charges -| 600 ak | Supervision — 9,000 a Insurance of stock 3,000 ee | Power 5,400 | Employees insurance 900 The following information is also available al DeptA | Dept B ‘Area Sq. ft 300 220 No. of workers 48f) a al or Value q pos eal fared’ rjzlo | “ao | Veda Hock. Hl th [foxaro) = 10 ro | yacp [ioe Prvea_sq,. $e bon Cisyias | 3, ‘sion “Ne -G) workes yoo Zz Pa pHflusass.2) |yadan § slxk aio | 100 __ _{E5:3: 9.0) |oe *¥6,50,000 ; B = & 6,00,000; C = & 5,00,000; P= 1,20,000; Apartment expenses are allotted on a Percentage basis as follow: A B Service Dept. P Service Dept. Q 40% 30% Show how the expenses of the two service departments are to be charged fo prod department on the basis of Repeated distribution method.wo Rpportion nwt 9 vb 2 [enna 1b:8:5133-20 | Zbov0 _|4 $000 | 13000) (apooo) | 13 (titisud+ 90 | 442m | 264up |298e0| 690 __t = al | 7 | ae 540 = fersixat:- | |F4o _| asbo | 865. | (seo) | 9 | en oe _| —_|_=—_+4 Bas |__| Pee:s:1] poss |aarar 44:2 R arias : eee Dovs:3:3) |i3-oe 14h [eres Cs Ce ie B a ee e A hte | pondaty Dicbithubon 125240 eaboas ASM = - ee : Z 22a 10) A company has 3 production departments A, B and C and 2 service departments X partments X and Y. __The following data are extracted from the records of the company for a particular given period: Rent and Rates =25,000; Power =7,500; General lighting =3,000; Depreciation on machinery =50,000; Indirect wages =7,500; Sundries =50,000. | Particulars A B c aa Y | Direct wages 15,000 10,000, 15,000, 7,500, 500 |_| HP of machines used oie ee 50 gue iy ‘Cost of machinery 3,00,000 | 4,00,000 | 5, l space aes) | 2000fab Peep ele | aS aa 120 |sentl gael Bouts | WP hows ae ] - ‘ tt fesasirclg a0] mo | 40 aa Deja lon Cost Qmathnw 5000 ovo Lboo | Iwe0}| 4 I [yautet2o.0), bt day es 4 maar Mages i i ‘il Pte isco | 2aso | lisup jo gey iia I DW : om ey | Wyswrbiar) | sooo | + o J Seco | \SPDO Jisoco |igso0 | apa te : ‘iat Dra 0 ie 153000 344155 | a6, > an : a e600 _ + 182s | a Seefrrelory OM devdaibuhon —Undby ae I pes fp Produchion dept a Pa, | EH | a re Qa i RB Liasi} A) . 259.4) aeae OH_ mah Adioe nde Sacks eee aol Ee ae - aa eave Ee t He 2195 20-14 =o Qe 7 + w8t5 + o1n> © aa A= Oly = 23Blas x )_ ucla i eee Og jets x_o-l fee ie 3. | He = by eg) Bias ‘ti | ae eel H$4s ¢ xf Brys gos 2 Adie S a | age DA) 4) 2 — us 484530 (94154)A Abba = %4-5lho __ baab t Bs 45304» Tas hy _ 4028 i es bogat = © she5 Gallons of material ¥ at 5/- gallon= 15/- 4 Gallons of material Z at 3/- gallon= 4/- §1 loss of 10% of output is expected to occur actual input has ur 58000 gallons of material X at 7/- per gallon 35000 gallons of material Y at 5.8\- gallon 1 Z at 2.6/- per gallon n of. 18000 gallon of materia ‘Actual output for period was 100,000 gallo Nad Hp 5 Gat fo A calculate all mate il “Sd. Produchion 1,6d,SeD| —* oe test 70, No & —gellene eck Arnsk _galtend | |gqcc0 | 49 | 4. 22.00 58000 | 5 _|9So,mo | 29520 —— 3 |120,,n9p | 19050 ‘ph, ae Ling spo | 11180} —_—_—_——= OS a iMcv= (sid. quantily 9 actual _cukpuk ie std eosk per ar Eactucl tok Q ochul nip tacbuel tosh fon tol [sienna l- s4ect Bye) fncccs x 25 J- [2s0co xx Se J+ AtesciCe yy | [Asev0 x Bs$- [1800 xF26)- 43200 (A Told MCV: 434200 (CE) { —— vs uy) |Mev. i : imp: [Sid cost per unit = A mn ban) * 5@ep0 = Ra \ib@eo_ (Fr) = "S$ J x 25600 =; Mrly: (tevised aid. gyan pial ie 22 Cbs: bs = 180) x B32 X: (5225s-29 -5 Sv00) x a= BR M+ (2b44.0b - S500) * Bs = 2 ee T4044 Be [Revised sid _quucucl + (Std. provertion g Be mir [fold sic qpualaty J) oleh actu ___ly> [escn0 |i 4osvo | x po = 59935: Mz [psec [14000 \x time + 32b44- Bb a_i > [Asoo [1400 } x Om = 2b 1-6 MuyDirect materials Rs. - Direct labor: : Dept. Rate per hour ‘Hrs. ’ Rs. ' 1 5 28 20 2 6 6 8 3 4 10 9 21 | Variable overheads Rs.1 6 | Fixed Overheads 2 4,80,000per month The budget was prepared at a tim are as under: | | Produc | Budgeted * 4 gy. Tx 9750 270 B 7800 280 © 7800 400 Later the market improved and the sales quantities could be increased by 20% a e when the market was sluggish. The budg 9 ‘A.and 25% each for products B and C. The sales manager confirmed that the quantities could be achieved at the prices originally budgeted. The p stated that the output cannot be increased beyond the budgeted level direct labour hours in Department 2. Required: Present a statement of budgetedTH1/A etanderd cost ofa cova checninl ittine ss 30% of material A at 25/- per kg - (65% of material B at 36/- per kg L A standard loss of 5% is expected in production - During @ period actually is used, | = ——— 275 kg of material Bat 34/- per kg 125 kg of material A at 27/- per kg The actual output was 380 per kg Ee Calculate all material oe M00 Sy xg seas fp? Paes ae | cha | stk Preduchon = 280 Jka | Aabusl i ; ; No G ¥4 [tot Pou by |X No: Sk __| Co’ OS P tuo | 96 360 | 195 | 8 24 F al “2ho _| Sb 19360 | 2365 4 : 2 ee 400 55 112 Sho AW i { ce a | ao —_ eee 20 | Lo loss-|5'. | "a a har oa Na mes. fs sta gly 8) actual °h > x Sh eat IM cy ema ae (dual tort _Q_atlud oy ine ost A: [iso yx F 6 )-[iasky a4 )- F105 CF) Ip: Qbokar T36)-(245ke x % 3H]: Zio CF) ‘ 3 piel las Cy») _ Malev! Hix Vanance - A. Live kes - IWskys\x 295 = zas(h BR (abokys- disk] xz 3a + % Sa0(a) Toad - 2es Co) | Rewised gid S4y + Std_jreporhen Bp oie | Tid aa OG A. Woks x 4cokgo = Io a | aay : ~ a mt > 240 ky x foo kgs» deokgs- i 400 33 aut iMYV Gants - 140 le) x25 0 Loy = 2toly) 2 Bb sO oMea 1 + © 4 i400 1800 Avo _ units Mea > 4up 4 1000 - 140 cb peed 12. PCP Lid. Sells its product at 83 per unit. The company uses a First-out system. Following data are related to its first two years of operations: Year 1 Unit Data: Sales(units) 1000 Production(units) 1400 Cost: @ Variable manufacturing 700 Fixed manufacturing + Variable marketing & Administration Fixed marketing & Administration ‘You are required to prepare income statement based on a. Variable costing andAY Sala Cro tb x & 83 Cost. ’ aes woke ee PD: Materwal D: Wages Vasurable M} test __ | a fe 8 goods I nee ateckom > Ciming eho uk! site Fi Md a Gosh. ocd, {Othe ae po [Fined —mankeling — Lee popit Serls- Cot. 8) LA= ot aaa — Fined Mig OH __> | Nastalle _tmorbetastg Adin Ob 4 Adnwin OWMetab Mgt — IP Ota Vawabl & | Variable Hy, Me cae ah “hy OH sk. oe My | Cok g peo duailehleloned Bava pe Ty. Aue 4) gaidh’ toll! Ag sprelst [sal Cons\ fa 6 | Finod_ “ho & Bdaiin 2OHE 2 cated t} Loss ie erred