The following details have been extracted for the year ended 31st March 2021

Particulars

Rs.

Corporate Manager’s salary Rent of Plant Sale of defective Raw Material Hire charges for special equipment Office rent Purchase of raw material Carriage inwards Indirect materials Office expenses Insurance premium for stock of raw material Insurance premium for computer Insurance premium for delivery van Opening stock of raw material Closing stock of raw material Sale of factory scrap Carriage outward Depreciation on delivery van Depreciation on computer Salaries to office staff Salaries to drawing and designing department Opening work in progress Closing work in progress Brand ambassador remuneration Direct wages for skilled labour Direct wages for unskilled labour Cost of catalogue printing Opening stock of finished goods Closing stock of finished goods Repairs to delivery van

11,10,000 1,27,500 8,500 57,000 84,700 4,85,230 24,325 2,35,600 41,000 22,600 12,700 11,500 78,175 76,230 16,800 1,10,000 28,000 87,300 1,15,300 1,85,700 94,300 96,500 4,80,000 3,15,500 1,24,500 57,500 6,40,000 7,50,000 35,500

 

Other information:

1.  The corporate manager’s salary is to be apportioned between the factory and the office in a ratio of 1:9

2.  Selling price is 120% of the Cost price.

From the above details prepare a Cost Sheet showing various elements of the cost.

Answer rating: 100% (QA)

Cost Sheet Answer to Question Cost Sheet as on March 312021 Particulars AmountRs AmountRs Direct Cost Opening Stock of Raw Material 78175 Add Purchase... View the full answer