S No Description Cost in Rs Cost in Rs

Was done in class

Direct Material
Starting Materials 140000
Materials Purchase 320000
Ending Materials -180000
Purchase Return -4800
Freight on materials 16000
Direct Material Cost 291200

Direct Expense 50000

Direct Labour 160000

Accrued Direct Labour 8000
Direct Labour Cost 168000

A Prime Cost 509200

Production Overhead
Indirect Labour 18000
Accrued Labour 1200
Factory supervision 10000
Factory Maintenance 14000
Heat Light and Power 52000
Rates and Taxes 4200
Plant and Machinery Depreciation 46050
Building Depreciation 6400
Misc Factory Expense 18700
B Total Production Overhead 170550

Gross Factory Cost 679750

Work In Progress Adjustment

Initial WIP 200000
Final WIP -192000
Work in Progress cost 8000

C Net Factory Cost 687750

Administration OH Adjustment
Office Salaries and Expenses 8600
Heat Light and Power 6500
Building Depreciation 800
Rates and Taxes 2100
Office Appliances 875
 Admin OH Costs 18875

D Cost of Production 706625

Finished Goods Adjustment

Initial FG 80000
Final FG -115000
FG Adjustment Cost -35000

COGS 671625

Sales and Distribution

Sales Commission 33600
Sales Travellling 11000
Sales Promotion 22500
Distribution Salaries & Exp. 18000
Heat Light and Power 6500
Building Depreciation 800
Sales and Distribution OH Cost 92400

D Total Cost of Sales 764025

Revenue 768000
Sales Returns and Rebates -14000
Total Revenue 754000

Profit (Loss) -10025

 Group Submission

1) Azhar Umar EPGPKC06007

2) Prathiush Mohan EPGPKC06014
3) Sreekesh K Pai EPGPKC06022
4) Yaswanth M EPGPKC06025
S No Description Cost in Rs

Materials Used 180000

Manual and Machine Labour Wages 160000
Work overhead 40000
Establishment and General Expense 19000

A Works Cost 380000

Total Cost (Works Cost + General OH) 399000

% Works OH bears to M&MLW 25%

% E&GE bears to Works Cost 5%

B Manufacture of Machine
Material Cost 8000
Wages 6000
Work OH 1500
E&GE 775

Total Cost 16275

25% on Total Cost 20344
Selling Price 17089

Quote to Customer for Machine 20344

Work Cost includes
1) Prime Cost
2) Production Overhead
3) WIP Adjustments
S No Description Cost in Rs Cost in Rs

Cost Sheet

Direct Material
Starting Material Inventory Cost 3000
Material Purchase Cost 110000
Ending Material Inventory Cost -4000
Total DM Cost 109000

Direct Labour 65000

Direct Expense 10000

Prime Cost 184000

Factory Overhead @ 50% of DL 32500

Gross Factory Cost 216500

Work In Progress
Initial WIP 4000
Final WIP 6000
WIP Adjustment Cost -2000

Net Factory Cost 214500

Finished Goods Initial 8000

Total Cost of Goods Available for Sale 222500

Finished Goods Final 7000

Total Cost of Goods Sold 215500

Administration Overhead @10% of works cost 21450

Revenue (Sales) 275000

Sales OH @ 5% of sales 13750

Total Cost of Sales 250700

Profit (Loss) 24300

S No Description Cost in Rs Cost in Rs
4 weeks ending June 30th

Direct Materials 4000

Direct Wages 6000
Machines hours worked
Machine hour rate 0.5
Direct Machines Cost 500

Prime Cost 10500

Office Overhead @ 20% of Works Cost 2100

Cost of Production 12600

Inventory Adjustment
Assuming Initial Inventory to be 0
Final Inventory
Cost per unit 0.63
Final Inventory Cost 1260

Total Cost of Goods Sold 11340

Total Units Produced

Sales Overhead 1080

Total Cost of Sales 12420

Revenue 18000

Profit (Loss) 5580

1000

2000

20000