Cost and Management Accounting 2008 – 2010

1) Prepare a cost sheet from the following data to find out profit (Amt. In Rs.)

a) Opening Stock of R.M – 5000 b) Opening Stock of F.G – 4000 c) Closing Stock of R.M – 4000 d) Closing Stock of F.G – 5000 e) Raw materials purchased – 50000 f) Wages paid to labourers – 20000 g) Chargeable expenses – 7000 h) Rent, rates and taxes – 5000 i) Power – 6000 j) Factory heating & lighting – 5000 k) Factory insurance – 8000 l) General expenses – 3000 m) Office salaries – 20000 n) Office printing & stationery – 5000 o) Salaries of salesman – 12000 p) commission of travel agents – 4000 q) Sales - 200000

2) Prepare a cost sheet from the following data to find out profit and cost per unit ( Amt. In Rs.)

a) Raw materials consumed - 160000b) Direct Wages - 80000 c) Factory O/H –16000 d) Office overheads – 10% of

Factory coste) Selling O/H – 120000 f) Units produced – 4000g) Units sold – 3600 h) Selling price – Rs.100 per unit.

3) Prepare a cost sheet from the following data to find out cost of production and cost per unit of goods manufactured by a company. ( Amt. In Rs.)

a) Op. stock of R.M – 3000 b) Raw materials purchased – 28000 c) Cl. Stock of R.M – 4500 d) Manufacturing wages – 7000

e) Depr. On plant – 1500 f) Loss on sale of part of plant – 300g) Factory rent & rates – 3000 h)office rent – 500i) General expenses – 400 j) Discount on sales – 3000k) Advt. Expenses – 5500 l) Income tax paid – 2000

Number of units produced during the month was 3000. Op.Stock

of finished goods was 200 valued at Rs.2800. Cl.stock of F.G. was 400 units.

Cost and Management Accounting 2008 – 2010

4) The accounts of Z ltd for the yr ended 31st March 2008 gives the following

details. You are required to prepare a cost statement for the year ended 31st March 2008. ( Amount in Rs.)

Works office salaries 6500Administrative office salaries 12600Carriage Outward 4300Carriage Inward 7150Repairs to Plant & Machinery 4450Rents, Rates, Taxes, Insurance etcFactory 8500Office 2000Sales 461000Stock of Raw Materials1st April 07 4800031st March 08 62000Materials Purchased 185000Travelling Expenses 2100Travelers Salaries and Commission 7700Productive Wages 126000Depreciation on Plant & Machinery 6500Depreciation on Office Furniture 300Directors Fees 6000Gas & Water (Factory) 1200Gas & Water (Office) 400Managers salary (1/4 office & ¾ Factory) 10000General Expenses 3400