From the following particulars of a manufacturing company, prepare a statement showing (a) cost of…

From the following particulars of a manufacturing company, prepare a statement showing (a) cost of materials used; (b) prime cost; (c) works cost; (d) percentage of works overheads to productive wages; (e) cost of production; (f) percentage of general overheads to works cost; and (g) net profit.

Stock of materials on 01 March 2010

10,000

Purchase of materials in March

2,75,000

Stock of finished goods on 1 March 2010

12,500

Productive wages

1,25,000

Finished goods sold

6,00,000

Works overheads

37,500

Office and general overheads

25,000

Stock of materials on 31 March 2010

35,000

Stock of finished goods on 31 March 2010

15,000

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