Cost Sheet Questions

From the following particulars prepared Cost Sheet:

Opening Stock of RM          20 K
Closing Stock of RM            30 K
Purchase of RM                   105K
Import Duty on Goods Purchased       15 K
Carriage Inward        5K
Packing Material       3K
Productive Wages         95K
Opening Stock of WIP      17K
Closing Stock of WIP        10K
Hire Charges paid on plant   14K
Other Chargeable Expenses   6K





From the following details prepare Prime Cost
OS of RM      10
RM purchased     80
RM returned       5
Carriage Inward for Material Purchased   4
 CS of RM   6
Opening Stock of WIP 8
CS of WIP   4
Chargeable Expenses   10
Productive Wages  40




Calculate Works Cost from the following:
OS of RM
OS of WIP
Purchase of RM
Carriage Inwards
Direct Wages
Hire Charges of Machinery
Carriage on Return
Rent Rates and Insurance of Works
Cost of factory supervision
Sale of Scrap
Cost of notification of defective Works
CS of RM
CS of WIP




Following information is available for a manufacturing firm
Raw Materials:
OS of RM
CS of RM
Purchases during the year
Direct Wages
Stores OH on Material 10 % of  Cost of Material
 FOH  50 % of Wages Bill
10 % of Material was rejected and soled as scrap. Value realised was Rs 6000
10 % of finished product was found to be defective . More money was spent to rectify the defectives equal to 20 % of direct wages
Total output was 10000 tons in a year





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