Prepare a Cost Sheet for a Manufacturing concern for the quarter ended December 2021 Particulars Opening Stock: Raw Materials Work in Progress Finished Goods Closing Stock : Raw Materials Work in Progress Indirect Wages Power Finished Goods Purchases of Raw Material Freight Inwards Direct Wages Product design costs Donation given to charitable trust 4 Amt. (Rs.) ? 5500 6500 0 8500 9000 67000 6700 75000 15000 20000 27000 20000 Rent and Rates: Factory Office : Factory Office : Factory Office Insurance Lighting Repairs to machinery Indirect Material Supervision Depreciation of Plant Office Salaries Finance Costs Repairs of Office Building Depreciation of Building Product promotion expenses Secondary packing expenses Selling Agent's commision Delivery Van Expenses 6500 7500 5000 3000 19000 29000 12000 5000 7000 1200 35000 4500 18000 14000 10000 2820 7500 2000 Delivery Van Expenses Sales Salesman Meet Expenses Supervisors Training charges Factory Cleaning and Repairs Advance Income Tax Sale of Scrap Manager's Salary Units produced during the quarter Units sold Answer the following questions: 1. What is the Prime Cost during the quarter? 2. What is the per-unit cost of goods sold? 3. What is the % of profit earned for the quarter on sales? 4. What is the value of Closing stock of finished goods? 5. Which items of cost are excluded? And why? 4 2000 750000 60000 2350 2350 28200 1200 50000 10000 8000