(a) Explain briefly any five Methods of Costing. (5) (b) Pleasant Cold Limited manufactured and sold 1,000 refrigerators in the year ending 31st March, 2012. The summarised Trading and Profit and loss Account is set out below: To Cost of materials To Direct wages To Manufacturing expenses To Gross Profit c/d To Management and Staff Salaries To Rent, Rates, and Insurance To Selling expenses To General expenses To Net Profit Rs. 80,000 By Sales Rs. 4,00,000 1,20,000 50,000 1,50,000 4,00,000 4,00,000 60,000 By Gross Profit b/d 1,50,000 10,000 30,000 20,000 30,000 1,50,000 1,50,000 P.T.O. [-2-] For the year ending 31st March, 2013 it is estimated that: (i) Output and sales will be 1,200 refrigerators. (ii) Prices of raw materials will rise by 20% on the previous year's level. (iii) Wages rates will rise by 5%. (iv) Manufacturing cost will rise in proportion to the combined cost of materials and wages. (v) Selling cost per unit will remain unchanged. (vi) Other expenses will remain unaffected by the rise in output. Your are required to submit the statement of the Board of Directors showing the price at which the refrigerator should be marked so as to show a profit of 10% on selling price. (10)