Question No 2. A manufacturing concern requires statement showing the result of its production operation for September, 2001. Cost records give the following information.

1^st September 2001 30^th September 2001

Raw material 100,000 1,23,500

Work in progress 31,000 34,500

Finished goods 71,500 42,000

Purchase of raw material 88,000

Direct Wages 70,000

Indirect Wages 39,500

Administrative expenses 13,000

Selling and distribution expenses 15,000

Sales 2, 84,000