URGENT!! 5.From the following, prepare a cost sheet and the price to be quoted.

1.1.2018 31.12.2018

Raw materials 20,000 32,000

Work-in-progress 26,500 14,000

Finished Goods 16,000 18,000

Purchases of raw materials 90,000 Carriage inwards 2,000 Direct wages 40,000

Direct expenses 15,000 Works overheads 22,500 Administration overheads 10,000

Selling and distribution overheads 14,000 Sales 2,20,000.

The Company wants to Quote the price for the order received from the customer, where the

material required is 4000 and labour 3000. Expected profit 25% margin on sales.