Q 2From the following particulars of a manufacturing firm, prepare a statement showing: ...
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Q 2From the following particulars of a manufacturing firm, prepare a statement showing:
| Materials used in manufacturing OMR 60000 |
| Materials used in primary packing OMR 10000 |
| Materials used in selling the product OMR 1500 |
| Materials used in the factory OMR 750 |
| Administrative expenses OMR 1250 |
| Depreciation on office building OMR 750 |
| Depreciation on factory building OMR1750 |
| Materials used in the office OMR 1250 |
| Wages - production OMR 10000 |
| Wages - factory supervision OMR 2000 |
| Indirect expenses - factory OMR 1000 |
| Selling expenses OMR 3500 |
| Audit charges OMR 250 |
| Bank service charges OMR 100 |
| Freight on materials purchased OMR 5000 |
| Advertising Expenses OMR 1250 |
| Profit OMR 25% on cost of production |
|
|
Calculate :
(a) Prime Cost (b) Works Cost
(c) Cost of Production (d) Cost of Sales and (e) Profit.
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