Transcribed Image Text: The following extract of costing information relates to commodity ‘A’ for the half year 31st December 2020

Transcribed Image 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 Transcribed Image 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

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