Prepare a statement of cost showing: (a) value of materials consumed (b) total cost of production (c) cost of goods sold and (d) the amount of profit From the following details relating to a toy manufacturing concern: Opening stock: raw materials 25,000 Finished goods 20,000 Raw materials purchased 2, 50,000 Wages paid to labors 1, 00,000 Closing stock: raw materials 20,000 Finished goods 25,000 Chargeable expenses 10,000 Rent, rates and taxes (factory) 25,000 Motive power 10,000 Factory heating and lighting 10,000 Factory insurance 5,000 Experimental expenses 2,500 Waste materials in factory 1,000 Office salaries 20,000 Printing and stationery 1,000 Salesmens salary 10,000 Commission to travelling agents 5,000 Sales 5, 00,000