8. ABC Ltd. Has furnished the following information from the financial books for the year ended 31st March 2017 Rs. 28,70,000 50,000 29,20,000 Expenditure Rs. Income To Opening stock 70,000 By Sales (10,250 units) (500 units at Rs. 140 each) To Material consumed 10,40,000 By Closing stock To Wages 6,00,000 (250 units at Rs. 200 each) To Gross profit c/d 12,10,000 Total 29,20,000 Total To Factory overheads 3,79,000 By Gross profheb/d To Administration overheads 4,24,000 By Interest To Selling expenses 2,20,000 By Rent received To Bad debts 16,000 To Preliminary expenses 20,000 To Net Profit 1,92,000 Total 12,51,000 Total 12,10,000 1,000 40,000 12,51,000 The cost sheet shows the cost of materials at Rs. 104 per unit and the labour cost at Rs. 60 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. 24 per unit. The opening stock of finished goods is valued at Rs. 180 per unit. You are required to prepare: (0) A statement showing profit as per Cost Sheet for the year ended 31st March, 2011; and (ii) A statement showing the reconciliation of profit as disclosed in Cost Sheet with the profit shown in Financial Accounts