SV Ltd. has furnished you the following information from the financial books for the year ended 31 March 1998.

Profit and loss account for the year ended 31 March 1998 Opening stock Rs Sales Rs 500 units at Rs 35 each 17,500 10,250 units 7,17,500 Materials consumed 2,60,00 Closing Stock:

Wages 1,50,000 250 units at Rs 50 each 12,500 Gross profit c/d 3,02,500 7,30,000 7,30,000 Factory overheads 94,750 Gross profit b/d 3,02,500 Administration overheads 1,06,000 Interest 250 Selling expenses 55,000 Rent received 10,000 Bad debts 4,000 Preliminary expenses 5,000 Net profit 48,000 3,12,750 3,12,750 The cost sheet shows the cost of materials as Rs 26 per unit and the labour cost as Rs 15 per unit. The factory overheads are absorbed at 60% of labour cost and administration overheads at 20% of factory cost. Selling expenses are charged at Rs 6 per unit. The opening stock of finished goods is valued at Rs 45 per unit.
You are required to prepare:
(i) A statement showing profit as per cost accounts for the year ended 31 March 1998.
(ii) Statement showing the reconciliation of profit disclosed in cost accounts with the profit shown in the financial accounts.