i )

March Lakson Company Limited had following activity in material No. 200.

March 1	Balance 400 units; cost 960
March 3	Invoice No. 248; 300 units; cost 780
March 7	Requisition No. 427; 100 units
March 15	Invoice No. 342; 200 units; cost 540
March 18	Requisition No. 437; 150 units
March 21	Requisition No. 449; 300 units
March 25	Invoice No. 349; 150 units; cost 420
March 29	Requisition No. 510; 200 units

Required: Prepare a separate materials ledger card showing date, Invoice number, requisition no, unit cost, and amount for the receipts and issues using:store ledger cards under each of the following assumptions as to flow of materials cost:

1. First-in, First-Out (FIFO) Costing
2. Last-in, First-Out (LIFO) Costing
3. Moving Average Costing

ii)

Following data are extracted from books of records of Rabia industry for the year ended December 31, 2019.

Inventories:	January 1st (Rs.)	December 31st (Rs.)
Materials	19,500	29,500
Work in process	18,000	24,000
Finished Goods	87,000	84,000
Sales for the year		5,25,000
Purchases		1,50,000
Purchase Returns and Allowances		3,000
Direct Labour		58,500
Power, Heat and Light		13,700
Depreciation of Plant & Machinery		8,800
Tool Expenses		4,600
Indirect Labour		1,900
Fire Insurance		500
Miscellaneous manufacturing costs		700
Other expenses for the year were:
Selling Expenses 10% of sales
Administrative Expenses 5% of Sales

Required:

Prepare Income statement and Cost of goods manufactured and sold statement for the year ended December 31, 2019.

iii)

John advertises on November 15, 2019 received on order from Smith cosmetics Limited for manufacturing and installation of a huge neon sign for a contract price of Rs. 1,90,000. Job No. 676-PN was allotted and manufacturing was begun on November 21, 1990. The costs are changed to the jobs periodically by means of weekly summaries. Following costs were related to job No. 676-PN:

Week Ended
	Nov. 23	Nov. 30	Dec. 7	Dec. 14
	Rs.	Rs.	Rs.	Rs.
Direct Materials	13,300	24,800	16,400	12,600
Direct Labour	1,800	12,400	20,300	14,200

Factory overhead is applied @ 25% of prime cost. The job was completed on December 14, 2017. Selling expenses are applied to the job @ 3% of contract price and administration expenses @2% of contract price.

Required:

Prepare a Job Cost Sheet containing above information.

iv)

Costs incurred and production made by Department No. 1 of Zainab Industry Limited during the month of January 2020 are as under:

Direct Materials	Rs.	5,06,250
Direct Labour	Rs.	95,625
Factory Overhead	Rs.	63,750
Units started in process		75,000
Units transferred to next department		60,000
Units still in process		15,000

Units still in process are 50%complete as to direct materials and 25% converted.

Required:

Cost of Production Report for the month.