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1. Following are cost records of product X of SV Ltd., for the year ending 31st March 2019:
|
Particulars |
Amount (Rs.) |
|
Sales (100,000 units) |
12,00,000 |
|
Raw material (01.04.18) |
60,000 |
|
Raw material (31.03.19) |
43,000 |
|
Material purchased |
185,000 |
|
Freight paid on raw material |
8,000 |
|
Direct wages |
176,000 |
|
Factory overheads |
122,000 |
|
Rent paid |
36,000 |
|
Office salary |
14,000 |
|
Selling expenses |
67,000 |
The company has opening inventory of work in progress of Rs. 58,000 and finished goods (20,000 units) of Rs. 200,000.
On 31.03.19, the company has inventory of work in progress worth Rs. 78,000 and finished goods (25,000 units) worth Rs. 276,000.
Prepare the Cost Sheet for year ending 31.03.2019, and determine the profit margin that the company is earning.
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