Problem 3: Cost sheet with adjustments for inventories A manufacturing company submits the following information on 31.03.2013. Sales for the year Inventories as on 1.4.2012 Materials WIP FG Raw materials purchased Direct labour Chargeable expenses Inventories as on 31.3.2013 Materials WIP FG Other Expenses: Factory overheads @ 50% of direct labour Administration overheads @ 10% of works cost Selling overheads @ 5% of sales Prepare a cost sheet Rs. Rs. 275000 3000 4000 8000 110000 65000 10000 4000 6000 7000