Extracted text: The following extract of costing information relates to commodity 'A' for the half year 31st December 2020 1. Purchase of raw materials 1,20,000 Seling and distribution overheads are { 1 per ton sold 16,000 tons of commodity were produced during the period . 2. Works Overheads 48,000 3. Direct wages 1,00,000 1,440 4. Carriage on Purchases 5. Stock(1st July, 2020 ) You are to ascetain (i) Cost of raw materials used. (ii) Cost of output for the period, (iii) Cost of sales (iv) Net profit for the period, and (vi) Net profit per ton of the commodity . Raw materials 20,000 Finished products(1,000 tons) 6. Stock(31st Dec, 2020) 16,000 Raw materials Finished products(2,000 tons) Works Overheads (1st july 2020) 22, 240 32,000 4,800 Works Overheads (31st Dec.. 2020) 16,000 Sales-Finished Products 3,00,00
Extracted text: The following information has been obtained from the records of XYZ coroporation for the period from January 1 to June 30 2020 . Jan. 1-2020 June-30-2020 1. Cost of raw materials 30,000 25,000 2. Cost of work-in- progress 12,000 15,000 3. Cost of stock of finished goods 60,000 55,000 4.Transactions during six months are: 5. Purches of raw materials 4,50,000 6. Wages paid 2,30,000 7. Factory overheads 92,000 8. Factory overheads 30,000 9. Selling & Distribution overheads 20,000 10. Sales 9,00, 000 Prepare 1. Cost Sheet showing (a) Materials consumed ;(b) Prime cost ; (c) Factory cost incurred and factory cost... and 2. Income Statement intraditional form the six months showing gross profit and net profit