Cost and Management Accounting 2010 (Solved)


COST AND PROFIT STATEMENT OF STOVES 1990

Amount Rs.
Total
Amount Rs.
Per Unit
Opening Stock of Materials         35000


Purchase of Materials                    52500


                                                                87500   


Closing stock of Materials             4900


VOLUME OF MATERIAL CONSUMED
82600
20.65
Direct wages
95000
23.75
                                PRIME COST
177600
44.40
Factory expenses
17500
4.37
WORK COST
195100
48.77
Establishment expenses
10000
2.50
COST OF PRODUCTION
205100
51.27
Opening completed stock
-

Cost of production during the prd
205100

Closing completed stock
35000

COST OF SALES
170100

PROFIT
18900

SELLING PRICE
189000



STATEMENT SHOWING QUOTATION PRICE FOR 1000 STOVES
Materials consumed
20650

15% increase
3098



23748
Factory wages
23750

10%a increase
2375

PRIME COST

26125
Factory expenses

49873


4370
WORK COST

54243
Establishment expenses

2500
TOTAL COST

56743
(profit 10% of selling price of 1/9 of cost)

6305
SELLING PRICE

63058

{ads}