(Model: Total cost and profi t)

In a factory a standard product is manufactured. From the following particulars prepare a cost sheet showing total cost and profi t made:

Raw materials consumed Rs. 30,000 Labour Rs. 60,000 Works overhead is charged at 40% of works cost and offi ce overhead is taken at 20% of total cost. The standard product sold during the period is 180 units at Rs. 1,200 each.