Scribd
Upload
40 views3 pages

Prac

The document contains cost and income statements for two different companies. It shows costs of raw materials, manufacturing overheads, work in progress, cost of goods sold, revenues, expenses and profits for each company.

Uploaded by

vaibhavpratapsingh910
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
40 views3 pages

Prac

The document contains cost and income statements for two different companies. It shows costs of raw materials, manufacturing overheads, work in progress, cost of goods sold, revenues, expenses and profits for each company.

Uploaded by

vaibhavpratapsingh910
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 3

Cost of Raw Material

Opening ₹ 20,000.00
Closing ₹ (30,000.00)
Added ₹ 480,000.00
Total ₹ 470,000.00

Cost of Material Produced


Direct Material ₹ 470,000.00
Direct Labour ₹ 88,000.00 (Excluding Premium)
Prime Cost ₹ 558,000.00

Manufacturing Overheads
Indirect Labour ₹ 87,000.00 (Including Premium)
Rent ₹ 32,000.00
Utilities ₹ 108,000.00
Royalty ₹ 43,500.00
Maintenance ₹ 9,000.00
Rent Special ₹ 15,700.00
Other ₹ 6,800.00
Total Overheads ₹ 302,000.00

Prime+O/H ₹ 860,000.00
Opening WIP ₹ 50,000.00
Closing WIP ₹ (40,000.00)

Total (Cost of Manufacturing) ₹ 870,000.00


Cost per unit ₹ 30.00

Cost of Goods Sold

Old Inverntory ₹ 97,500.00


New Inventory ₹ 705,000.00

Total (COGS) ₹ 802,500.00

iNCOME STATEMENT

Revenue
Sales ₹ 1,300,000.00
COGS ₹ 802,500.00
Gross Profit ₹ 497,500.00
Expense
Advertising ₹ 105,000.00
Ent and Tra ₹ 40,000.00
Rent ₹ 8,000.00
Salary ₹ 210,000.00
Other ₹ 17,000.00
Total ₹ 380,000.00

Operating Profit ₹ 117,500.00


Defective ₹ 3,000.00

EBIT ₹ 114,500.00
Cost of Goods

Direct Material ₹ 160,000.00


Direct Labour ₹ 70,000.00
Prime Cost ₹ 230,000.00

Manufacturing O/H
Indirect Labour ₹ 12,000.00
Utilities ₹ 9,000.00
Depreciation ₹ 21,000.00
Insurance ₹ 3,000.00
Rent ₹ 40,000.00
Total ₹ 85,000.00

WIP:Open ₹ 16,000.00
WIP:Close ₹ (21,000.00)

Total ₹ 310,000.00
COGS
Opening ₹ 40,000.00
iNCOME Statement Closing ₹ (60,000.00)
Revenue New ₹ 310,000.00
Sales ₹ 450,000.00 COGS ₹ 290,000.00
COGS ₹ 290,000.00
Gross Profit ₹ 160,000.00

Expense
Utilities ₹ 6,000.00
Depreciation ₹ 18,000.00
Insurance ₹ 1,000.00
Rent ₹ 10,000.00
Salary ₹ 32,000.00
Advertising ₹ 75,000.00
Total ₹ 142,000.00

Operating Profit ₹ 18,000.00

You might also like