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# Cost Sheet and Tender sheet solution of OLD IS GOLD

Cost sheet and Tender sheet (Input or output costing) Old is Gold solution of account class 12

## 2076 Set B Q. No. 21

Cost sheet

 Particular Amount Direct material consumption 250000 Add: Direct labor cost 250000 Prime cost 500000 Add: Factory overhead 300000 Factory cost 800000 Add: Office overhead 200000 Total cost 1000000

Percentage of factory overhead on direct labour cost = (Factory overhead / Direct wages) * 100

= (300000 / 250000) * 100

= 120%

= (2000000 / 800000) *100

= 25%

Tender Sheet

 Particular Amount Direct material 125000 Add: Direct labour 80000 Prime cost 205000 Add: Factory overhead (120% of 80000) 96000 Factory cost 301000 Add: Office overhead (25% of 301000) 75250 Total cost 376250 Add: Profit (376250 * 20)/80 94062.5 Sales 470312.5

When the percentage of profit is given on sales and sales is not available:

Net profit = Total cost X (% Profit / (100- % profit))

## 2076 Set C Q. no. 21

Cost Sheet

Working note to find closing stock of finished goods

Sales units = Opening stock + Production units - Closing stock

Or, 10000 = 1000 + 10000 - Closing stock

Closing stock = 1000 units

Cost per units = Cost of production / Production units

= 800000 / 10000

= 80 per unit

## 2075 GIE Q. no. 21

Cost Sheet

 Particular Amt. Amt. Opening stock of raw material 20000 Add: Purchase of raw material 150000 Less: Closing Stock of raw material (15000) Cost of raw material 155000 Direct wages 107000 Prime cost 262000 Add: Factory overhead :- Depreciation on machinery 5000 :- fuel 15000 :- Factory rent 10000 30000 Factory cost 292000 Add: Office and administrative Overhead 0 :- Office salaries 25000 :- Office stationery 5000 30000 Cost of production 322000 Add: Opening Stock of finished goods  (500X 165) 82500 Less: Closing stock of finished goods (1000 X 165) (165000) (82500) Cost of goods sold 239500 Add: Selling and distribution overhead :- Selling and distribution expenses (1500 * 10) 15000 15000 Cost of sale 254500 Add: Profit (254500 * 20 / 80) 63625 Total sales amount 891000

Working note to find Sales units

Sales units = Opening stock + Production units - Closing stock

= 500 + 2000 - 1000

= 1500 units

## 2075 Set A Q. No. 21

Cost sheet

Percentage of factory overhead on direct labour cost = (Factory overhead / Direct wages) * 100

= (60000 / 80000) * 100

= 75%

= (50000 / 240000) *100

= 20.833%

Percentage of Selling overhead = (Selling overhead / Factory cost) * 100

= (30000 / 240000) * 100

= 12.5%

Tender Sheet

 Particular Amount Direct material 60000 Direct labour 40000 Prime cost 100000 Factory overhead (75% of 40000) 30000 Factory cost 130000 Administrative overhead (20.833% of 130000) 27083 Cost of production 157083 Sales Overhead (12.5% of 130000) 16250 Total cost 173333 Add: Profit (173333 * 25)/75 57778 Sales 231111

When the percentage of profit is given on sales and sales is not available:

Net profit = Total cost X (% Profit / (100- % profit))

## 2075 Set B Q. no. 21

a)

Cost Sheet

Working note to find sales unit

Sales units = Opening stock + Production units - Closing stock

= 1000 + 4000 - 2000

= 3000 unit

b)      Profit per units = Profit / Sales unit

= 75000 / 3000

= Rs. 25

## 2074 Supp. Q. No. 21

Cost sheet

 Particular Amount Direct material 300000 Direct labour cost 200000 Prime cost 500000 Factory / worked overhead 150000 Factory cost 650000 Office overhead 130000 Cost of production 780000 Selling and distribution overhead 65000 Total cost 845000 Add: profit (845000 X 20 / 100) 169000 Total Sales 1014000

Percentage of factory overhead on direct labour cost = (Factory overhead / Direct wages) * 100

= (150000 / 20000) * 100

= 75%

= (130000 / 65000) *100

= 20%

Percentage of Selling overhead = (Selling overhead / Factory cost) * 100

= (65000 / 650000) * 100

= 10%

Tender Sheet

 Particular Amount Direct material 500000 Direct labour 300000 Prime cost 800000 Factory overhead (75% of 300000) 225000 Factory cost 1025000 Office overhead (20% of 1025000) 205000 Cost of production 1230000 Selling and distribution overhead (10% of 1025000) 1332500 Add: Profit (1332500 X 20 / 100) 266500 Sales 1599000

When the percentage of profit is given on sales and sales is not available:

Net profit = Total cost X (% Profit / (100- % profit))

## 2074 Set A Q. No. 21

Cost sheet

 Particular Amount Direct material 200000 Direct wages 100000 Prime cost 300000 Factory / worked overhead 50000 Factory cost 350000 Administrative overhead 70000 Cost of production 420000 Selling and distribution overhead 35000 Total cost 455000 Add: profit (455000 X 10 / 90) 50556 Total Sales 505556

Percentage of factory overhead on direct labour cost = (Factory overhead / Direct wages) * 100

= (50000 / 10000) * 100

= 50%

= (70000 / 350000) *100

= 20%

Percentage of Selling overhead = (Selling overhead / Factory cost) * 100

= (35000 / 350000) * 100

= 10%

Tender Sheet

 Particular Amount Direct material 120000 Direct labour 80000 Prime cost 200000 Factory overhead (50% of 80000) 40000 Factory cost 240000 Office overhead (20% of 240000) 48000 Cost of production 288000 Sales overhead (10% of 240000) 24000 Total cost 312000 Add: Profit ( 312000* 10)/90 34667 Sales 346667

When the percentage of profit is given on sales and sales is not available:

Net profit = Total cost X (% Profit / (100- % profit))

## 2074 Set B Q. no. 21

Cost Sheet

 Particular Amt. Amt. Opening stock of raw material 250000 Add: Purchase of raw material 450000 Less: Closing Stock of raw material (150000) Cost of raw material 550000 Direct wages 90000 Prime cost 640000 Add: Factory overhead :- Depreciation on machinery 10000 :- Fuel and water 20000 30000 Factory cost 670000 Add: Office and administrative expenses :- Office salary 50000 :- Office expenses 15000 :- Office stationery 15000 80000 Cost of production 750000 Add: Opening stock of finished goods (200 X 800) 160000 Less: Closing stock of finished goods (400 X 1000) (400000) (240000) Cost of goods sold 510000 Add: Selling and distribution overhead :- Selling overhead (2% of 750000) 15000 15000 Cost of sale 525000 Add: Profit (525000 * 20 / 80) 131250 Total sales amount 656250

## 2073 Supp. Q. No. 21

Cost sheet

 Particular Amount Direct materials 300000 Direct wages 175000 Prime cost 475000 Factory / worked overhead 95000 Factory cost 570000 Office overhead 57000 Total Cost 627000 Add: Profit (627000 * 20%) 125400 Total sales 752400

Percentage of factory overhead on direct labour cost = (Factory overhead / Direct wages) * 100

= (95000 / 175000) * 100

= 54.29%

= (57000 / 570000) *100

= 10%

Tender Sheet

 Particular Amount Direct materials 400000 Direct labour 300000 Prime cost 700000 Factory overhead (54.29% of 300000) 162870 Factory cost 862870 Office overhead (10% of 862870) 86287 Total cost 949175 Add: Profit (949175* 20)/80 237289 Sales 1186464

Cost Sheet

## 2073 Set D Q. no. 21

Cost Sheet

Working note to find sales unit

Sales units = Opening stock + Production units - Closing stock

= 2000 + 11000 - 3000

= 10000 unit

## 2072 Supp. Q. no. 21

Cost Sheet

Working note to find opening stock

Sales units = Opening stock + Production units - Closing stock

or, 4000 = Op. stock + 5000 - 1000

or, Op. stock = 0 units

## 2072 Set D Q. No. 21

Cost sheet

 Particular Amount Direct materials 400000 Direct wages 200000 Prime cost 600000 Factory / worked overhead 100000 Factory cost 700000 Office overhead 70000 Cost of production 770000 Selling and distribution overhead 0 Total cost 770000 Add: profit (770000 X 20 / 80) 192500 Total Sales 962500

Percentage of factory overhead on direct labour cost = (Factory overhead / Direct wages) * 100

= (10000 / 20000) * 100

= 50%

= (70000 / 700000) *100

= 10%

Tender Sheet

 Particular Amount Direct material 50000 Direct labour 30000 Prime cost 80000 Factory overhead (50% of 30000) 15000 Factory cost 95000 Office overhead (10% of 95000) 9500 Cost of production 104500 Sales overhead 0 Total cost Add: Profit ( 104500* 20)/80 26125 Sales 130625

## 2072 Set E Q. No. 21

Cost sheet

 Particular Amount Direct materials 600000 Direct wages 400000 Prime cost 1000000 Factory / worked overhead 160000 Factory cost 1160000 Office overhead 232000 Cost of production 1392000 Selling and distribution overhead 0 Total cost 770000 Add: profit (1392000 X 25 / 75) 464000 Total Sales 18560000

Percentage of factory overhead on direct labour cost = (Factory overhead / Direct wages) * 100

= (160000 / 400000) * 100

= 40%