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In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000?
Most Upvoted Answer
In a factory 20,000 units of product A were manufactured in the month ...
Cost Sheet for Product A in July 2009
Particulars Amount
Direct Material
Opening Stock 5,000
Add: Purchases 55,000
Less: Closing Stock (10,000)
Total Direct Material Cost 50,000
Direct Labor 25,000
Factory Overheads 40,000
Total Prime Cost 115,000
Add: Office and Administration Overheads 20,000
Total Cost of Production 135,000
Number of units manufactured 20,000
Cost per unit 6.75
Explanation:
Direct Material Cost: It is the cost of the raw material used in the production of the product. The cost sheet takes into account the opening stock of raw material, purchases made during the month, and the closing stock of raw material.
Direct Labor Cost: It is the cost of wages paid to workers directly involved in the production process.
Factory Overheads: It includes all the indirect expenses incurred in the production process such as rent, electricity, depreciation, etc.
Prime Cost: It is the sum of direct material and direct labor costs.
Office and Administration Overheads: It includes all the indirect expenses incurred in the office and administration departments such as salaries, rent, stationery, etc.
Total Cost of Production: It is the sum of prime cost and overheads.
Cost per Unit: It is calculated by dividing the total cost of production by the number of units manufactured.
Particulars Amount
Direct Material
Opening Stock 5,000
Add: Purchases 55,000
Less: Closing Stock (10,000)
Total Direct Material Cost 50,000
Direct Labor 25,000
Factory Overheads 40,000
Total Prime Cost 115,000
Add: Office and Administration Overheads 20,000
Total Cost of Production 135,000
Number of units manufactured 20,000
Cost per unit 6.75
Explanation:
Direct Material Cost: It is the cost of the raw material used in the production of the product. The cost sheet takes into account the opening stock of raw material, purchases made during the month, and the closing stock of raw material.
Direct Labor Cost: It is the cost of wages paid to workers directly involved in the production process.
Factory Overheads: It includes all the indirect expenses incurred in the production process such as rent, electricity, depreciation, etc.
Prime Cost: It is the sum of direct material and direct labor costs.
Office and Administration Overheads: It includes all the indirect expenses incurred in the office and administration departments such as salaries, rent, stationery, etc.
Total Cost of Production: It is the sum of prime cost and overheads.
Cost per Unit: It is calculated by dividing the total cost of production by the number of units manufactured.
Community Answer
In a factory 20,000 units of product A were manufactured in the month ...
In a factory, 20,000 units of product A were manufactured in the month of March 2018. from the following
figures, prepare a Cost Sheet showing cost per unit.
Opening Stock of Raw Materials 5,000
Raw materials purchased 55,000
Closing Stock of finished goods 1,000
Closing Stock of Raw Materials 10,000
Direct Wages 25,000
factory overhead 40,000
Office Overhead 20,000
Materials returned to seller 4,000
figures, prepare a Cost Sheet showing cost per unit.
Opening Stock of Raw Materials 5,000
Raw materials purchased 55,000
Closing Stock of finished goods 1,000
Closing Stock of Raw Materials 10,000
Direct Wages 25,000
factory overhead 40,000
Office Overhead 20,000
Materials returned to seller 4,000
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In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000?
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In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000?.
In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000?.
Solutions for In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000? in English & in Hindi are available as part of our courses for B Com.
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In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000?, a detailed solution for In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000? has been provided alongside types of In a factory 20,000 units of product A were manufactured in the month of July 2009 from the following figures obtained from the costing records prepare a cost sheet showing cost per unit. Opening stock of raw material. 5,000 Purchases. 55,000 Closing stock of raw material. 10,000 Direct wages. 25,000 Factory overheads. 40,000 Office and administration overhead. 20,000? theory, EduRev gives you an
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