Problem-8: From the following particulars relating to M/S Shah Brothers, prepare a simple cost sheet showing, a. prime cost b. works cost or cost of production c. Total cost of sales e. profit or loss for the period for six months ended 31.3.2009: Cost of materials consumed/used 2.30.000 Oil and waste 3.000 Operating labor D. labor 32.000 Wages of foreman / supervisor 44.500 Direct expenses 3.900 Stock keeper wages 40.000 Sales cash and credit 10.00.000 Commission to partner 9,000 Electric power 1.000 Salary to partner 2.000 Consumable stores 500 Direct wages pavable 1.00.000 Lighting i)Factory plant 200 ii) office establishment 650 Carriage outward (Selling transportation cost). 1.000 Rent i)factory plant 1.000 ii) machinery 2.000 iii) office premises 3.000 iv) warehouse (Selling) 4.000 Interest on bank overdraft 5.500 Advertising 3,450 Depreciation i) office building 2.000 ii) machinery 4,280 Traveling expenses 6.000 Office manager's salary 12.000 Salesman's commission 22.000 Director's fees 40.000 Printing & stationery 5.200 Telephone charges 6.500 Postage 3.320 Bad debts 2.900