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  3. opening stock: (i) raw material 40,350, (ii) work-

Opening Stock: (i) Raw Material 40,350, (ii) Work-in-Progress 15,000 and (iii) Finished Stock 35,590. ...

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Accounting

Opening Stock:

(i) Raw Material 40,350,

(ii) Work-in-Progress 15,000 and

(iii) Finished Stock 35,590.

Materials purchased 2,50,000, Wages paid 2,00,000, Carriage inward 2,000, Consumable Stores

10,000, Wages of Storekeeper 7,000, Depreciation of Plant & Machinery 10,000, Materials

destroyed by Fire 5,000, Repairs & Renewals 5,010, Office Manager's Salary 10,000, Salary to

Office Staff 20,500, Printing & Stationary 10,000, Power 10,500, Lighting for Office Building

2,000, Carriage outward 3,000, Freight 5,000, Entertainment 2,500, Warehousing charges 1,500,

Legal charges 2,000, Expenses for participating in Industrial exhibition-6,000.

Closing Stock:

(i) Raw material 35,000,

(ii) Work-in-Progress 14,500, and

(iii) Finished Stock 40,030. Profit 25% on cost.

Calculate:

Product cost, Period cost, Prime cost, Factory cost, Cost of Goods sold, profit, Total cost,

Variable cost, fixed cost, Break-even point.

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