x 79840

y 120800

Financial profit
Particulars Rs Particulars Rs
Opening RM 15000 RM sold 5000
Opening WIP 30000 Sales 397804
Purchases 80000
MOH 120800
DL 30000 Closing RM 37160
Closing WIP 20000

Profit 184164
Total 459964 Total 459964

Reconciliation statement
Financial Profit 184164
Add

Less Factory OH incurred not charge 143000

Sales of Raw material 5000

-148000

Costing profit 36164

72328
Costing profit
Rs
Opening Inventory of Raw Material 15000
Purchase of Raw Material 80000
Expenses on Purchase of Raw Material
(Closing Inventory of Raw Material) -37160

COST OF RAW MATERIAL CONSUMED 57840

Direct Wages 30000
Direct Expenses 0

PRIME COST 87840

Manufacturing Overhead Expenses 263800
Opening Inventory of Work in Progress 30000
(Closing Inventory of Work in Progress) -20000

WORKS COST/ FACTORY COST 361640

Office & Administrative Overhead Expenses 0

COST OF PRODUCTION 361640

Opening Inventory of Finished Goods 0
(Closing Inventory of Finished Goods) 0

COST OF GOODS SOLD 361640

Selling & Distribution Overhead Expenses 0

COST OF SALES 361640

PROFIT 36164
SALES 397804
Raw material
Particulars Rs Particulars Rs
Opening RM 15000
Purchases 80000 To WIP 79840
By WIP 40000 To MOH 10000
To sales of RM 5000
To MOH (loss) 3000
Closing 37160

Total 135000 Total 135000