R.K. Ltd. operates separate cost accounting and financial accounting systems. The following information has been extracted from the cost records of the company for the month of Jan 2005. Jan. 1, 2005...

Extracted text: R.K. Ltd. operates separate cost accounting and financial accounting systems. The following information has been extracted from the cost records of the company for the month of Jan 2005. Jan. 1, 2005 Jan. 31, 2005 (A) Control account balances : Raw Material Work-in-progress Finished Goods 49,500 60,100 1,15,400 50,000 56,900 1,37.400 (B) Additional information for the month : $ 1,08.000 91.600 74.000 Raw Materials Purchased Production Overhead Incurred Production Overhead Absorbed (185% of Direct Wages) Factory Cost of Goods Produced Cost of Goods Sold (Excluding Selling and Administration Overhead) Selling and Administration Overhead Incurred and Absorbed Sales Loss of Material Damaged by Flood You are required to : (i) Prepare the following control accounts in the cost ledger : (a) Raw Material (b) Work-in-Progress (c) Finished Goods (d) Production Overhead 2,22.000 2,00,000 30.000 3,00,000 2,400 absorbed overhead is written off to Costing Profit and Loss A/c