Question: B) Prepare a cost sheet using following information, calculating gross Profit: (10 Marks) Opening Stock Closing Stock Raw Material $8,000 $12000 Work in Process $12,000

B) Prepare a cost sheet using following information, calculating gross Profit: (10 Marks) Opening Stock Closing Stock Raw Material $8,000 $12000 Work in Process $12,000 $16,000 Finished Goods $22,000 $17,000 Purchases $171,000 Carriage In $3,200 Direct Labor $17,50 Factory Overheads $77,000 Administration Overheads S43.000 Selling and Distribution O/H $22,800 Sales $475,000

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