1. Creative Constructions is a small scale metal and...
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Accounting
1. Creative Constructions is a small scale metal and wood cutting manufacturer, selling products in the home construction market. The following data pertains to the year 2011: Sandpaper Rs. 90,000 Materials handling cost 4,000 3,000 Mis. indirect manufacturing labour Direct manufacturing labour Direct materials 1 Jan 2011 Direct materials 31 Dec 2011 Rs. 7,000 Depreciation - plant equipment 70,000 Property tax on plant equipment 40,000 Fire insurance on plant equipment 3,00,000 Direct materials purchased 40,000 Revenue 50,000 Advertisement and sales promotion 1,00,000 Marketing salaries 1,50,000 Distribution costs 10,000 Customer service costs 14,000 4,60,000 13,60,000 60,000 Finished goods 1 Jan 2011 Finished goods 31 Dec 2011 Work in process 1 Jan 2011 Work in process 31 Dec 2011 1,00,000 70,000 1,00,000 Prepare the cost sheet for the year showing the Prime cost, Works cost, Cost of production, Cost of goods sold, Cost of Sales and Profit. ( 5 marks)
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