Cost Sheet Solutions
-
Upload
priya-datta -
Category
Documents
-
view
215 -
download
0
Transcript of Cost Sheet Solutions
-
7/31/2019 Cost Sheet Solutions
1/8
Solution 1Cost sheet
Particulars Rs Total Cost Cost Per Unit
Opening Stock of RM
Add - Pur of RM
Less- Closing stock of
RM
Cost of MaterialConsumed
Direct Wages
Chargeable exp
Prime Cost
Factory Cost:-Rent
Motive Power
Heating
Insurance
Experimental
expensesWaste Materials
25000
250000
275000
20000
25000
10000
10000
5000
2500
1000
255000
100000
10000
365000
-
7/31/2019 Cost Sheet Solutions
2/8
Particulars Rs Total Cost Cost Per Unit
Add- opening stock
Of WIP
Less- closing stock of
WIP
Work Cost
Office on cost
Salaries
Printing
Cost of productionAdd- opening stock of
FG
Less- closing of FG
53500
900
54400
3000
20000
1000
51400
416400
21000
437400
20000
457400
25000
432400
8.03
65.06
3.28
68.34
-----
68.34
-----
72.066
-
7/31/2019 Cost Sheet Solutions
3/8
Particulars Rs Total Cost Cost Per Unit
Selling & Distribution
O/H
Salary
CommissionFree Samples
Other Selling exp
Cost of Sales
Profit 1/3 on cost
Sales
WORKING NOTES:-
Units producedAdd- opening stock of
FG
Less- closing stock
10000
5000500
1200
16700
449100
149700
598800
Units sold
2.784
74.85
24.95
99.80
6400 units
400 units
6800 units
800 units
6000 units
Calculation of other selling expenses on units sold
-
7/31/2019 Cost Sheet Solutions
4/8
Particulars Rs Total Cost Cost Per Unit
For 6000 units @ Rs. 0.20p = Rs. 1200
(2) Calculation of Profit on cost price
Selling Price= Cost Price + Profit
100 = 75+25
= 25/75 * 449100
= 149700
3) Donations to charitable fund, and IT paid are items of pure finance hence I have
not included them in cost sheet
-
7/31/2019 Cost Sheet Solutions
5/8
Solution 2 Cost sheetParticulars Quantity RS RS
Opening Stock of RM
+ Purchases-Closing stock of RM
Cost of materials Consumed
Direct wages
Prime Cost
Work Overhead- 50% of
Direct wagesstores Overhead- 50% of
Direct materials
Total cost of gross output
-Sales of rejected costing
Cost of finished Costing
Additional cost of rectifyingManufacturing Cost
2000
200
1800
-----1800
14000
10000010000
104000
20000
124000
10000
10400
144400
800
143600
360143960
Working Note:
Cal of cost of rectification
20/100 of proportionate wages is the additional cost i.e. 20/100 * 20000 = 4000.
For 2000 tons the cost is Rs.4000 therefore, 180 tons = ?180 * 20/100 = 360
-
7/31/2019 Cost Sheet Solutions
6/8
Solution 3 Cost sheetParticulars Rs Rs
Opening stock of RM
Add- Purchase of RMCarriage inwards
Less- closing stock of RM
Cost of material
Direct wages
Prime costFactory Overheads:-
Indirect wages
Factory rent, rates& power
Depreciation on plant
Add- opening Stock of WIP
Less- closing Stock of WIP
Works Cost
Office & Administrative
overhead office rent
Office Cost
75000
660001500
142500
91500
2750
15000
3500
51000
52500
103500
21250
124750
28000
152750
35000
117750
2500
120250
-
7/31/2019 Cost Sheet Solutions
7/8
Particulars Rs Rs
Add- opening stock of FG
Less- closing stock of FG
COGSSelling & Distribution
Cost of Sales
Profit
sales
54000
174250
31000
14325017906
161156
17906
179062
Working Notes;-
Let SP 100Less - Profit 10% 10
Cost of sales 90
Less - selling & Distribution 10 ------- 10% on sale
CP 80
Calculation of Selling & Distribution overheads
CP + profit = Cost of Sales
80 +10 = 90
10/80 * 143250 = 17906
Calculation of profit
SP = CP + Profit = 100 = 90 +10
10/90 * 161156 (i.e. cost of sales)
-
7/31/2019 Cost Sheet Solutions
8/8
Solution 4 Cost sheetParticulars Cost per 1000 bricks Total cost for 5000000
Coal: 2500kgs@ Rs.15 per kg 7.50 37500
Wages: 10*150*50 15.00 75000
Royalty 0.75 3750
Prime cost 23.25 116250
Works exp- 10% of wages &
coal
2.25 11250
Handling Charges 0.50 2500
Dep- 10% on Rs. 150000 3.00 15000
Work Cost 29.00 145000
Administrative exp- 5% of
wages & Coal
1.125 5625
Cost of Production 30.125 150625
+ Opening stock 4000
- Closing stock 33138
Cost of bricks sold 121487
Profit 78513