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Question 3: The Muscat Auto ltd. Supplies you the following information and requires you to prepare cost sheet.
Stock of raw materials on 1st Sept. 2002 75,000
Stock of raw materials on 30th sept. 2002 91,500
Direct wages 52,500
Indirect wages 2,750
Sales 200,000
Work-in-progress on 1st Sept, 2002 28,000
Work-in-progress on 30th Sept 2002 35,000
Purchases of raw materials 66,000
Factory rent, rates, and power 15,000
Depreciation of plant and machinery 3,500
Expenses on purchases 1,500
Carriage outward 2,500
Advertising 3,500
Office rent and taxes 2,500
Travelers wages and commission 6,500
Stock of finished goods on 1st Sept, 2002 54,000
Stock of finished goods on 30th Sept, 2002 31,000
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