Example 7: The following details have been obtained from the cost records of Neelkamal Ltd., Pune for the year ended 31st March, 2014: Particulars Stock of Operating Materials as on 1-04-2013 Wages paid to Direct Workers Interim Dividend Paid Purchases of Raw Materials Heating and Lighting Counting House Salaries Carriage on purchase of Raw Materials Commission on Sales Wages Payables Technical Director's Fees Stock of Operating Materials as on 31-03-2014 Showroom Expenses Establishment Cost Share Transfer Fees Expenses of Testing Labs Branch Office Expenses Aftersales Service Expenses Selling Price Prepare cost sheet showing: 1) Cost of Raw Material consumed 2) Prime Cost 3) Works Cost 4) Cost of Production 5) Total Cost 6) Profit or Loss. 30,000 55,000 12,000 87,000 6,000 20,000 3,000 5,000 5,000 10,000 440,000 7,000 12,000 2,000 4,000 8,000 8,000 2,50,000