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Prepare cost sheet from the following particular in the book of Fintech Ltd. Opening stock Closing stock (Rs) (Rs) Raw material 15,000 20,000 Work in
Prepare cost sheet from the following particular in the book of Fintech Ltd. Opening stock Closing stock (Rs) (Rs) Raw material 15,000 20,000 Work in progress 17,500 24,000 Finished goods 20,000 27,500 Other details are as follows: Raw material purchased - Rs. 1, 20,000 N - Rs 10,000 Rs 35,000 - Paid freight charges Wages paid to laborers Directly chargeable expenses Factory on cost Rs 25,000 - 20% of prime cost General and administrative expenses - 4% of factory cost Selling and distribution expenses 5% of production cost Profit 20% on sales
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