CHEMICAL MANUFACTURER COMPANY

COST SHEET (YEAR 2009)

PRODUCTION 153000 Kgs of Mixture

Details Kgs

Opening Inventory of Raw Material 2000

Purchase of Raw Material 160000
Expenses on Purchase of Raw Material
(Closing Inventory of Raw Material) (1200)

COST OF RAW MATERIAL CONSUMED 160800

Direct Wages
Direct Expenses

PRIME COST 160800

Manufacturing Overhead Expenses (7800)
Opening Inventory of Work in Progress 0
(Closing Inventory of Work in Progress) 0

FACTORY COST 153000

Office & Administrative Overhead Expenses

COST OF PRODUCTION 153000

Opening Inventory of Finished Goods 500
(Closing Inventory of Finished Goods) (450)

COST OF GOODS SOLD 153050

Selling & Distribution Overhead Expenses

COST OF SALES 153050

PROFIT
SALES 153050
Total Cost (Rs) REMARKS

2000
180000
0
(1350) Valued on FIFO Basis

180650
178650
18500

377800
138400 Workings Shown Separately
0
0

516200
55420 Workings Shown Separately

571620
1750
(1518) Valued at Factory Cost of Mixture

571852
59500 Workings Shown Separaetly

631352
286648
918000
0
 WORKING NOTES

Manufacturing Overhead Expenses Rs

Factory Stores Consumed (7250 + 24250 - 5550) 25950
Sale of Scrap (8170)
Power Expenses 30400
Depreciation of Machinery 18000
Factory Salaries 72220

TOTAL MANUFACTURING OVERHEADS 138400

Office Administrative Overhead Expenses

Office Salaries 37220
Office Expenses 18200

TOTAL OFFICE & ADMINISTRATIVE OVERHEAD 55420

Selling & Distribution Overhead Expenses

Salaries 41500
Selling & Distribution Expenses 18000

TOTAL SELLING & DISTRIBUTION OVERHEAD 59500

QUANTITY RECONCILIATION EXERCISE KGS

Quantity Sold (Finished Mixture) 153050
Closing Inventory of Finished Mixture 450
Opening Inventory of Finished Mixture (500)
QUANTITY PRODUCED (FINISHED MIXTURE) 153000

Raw Material Consumed

Opening Inventory of Raw Material 2000
Purchase of Raw Material 160000
Closing Inventory of Raw Material (1200)
RAW MATERIAL CONSUMED 160800

QUANTITY OF SCRAP (160800-153000) 7800

7800 kgs (as under)