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The following balances are shown in the Cost Ledger of Vinak Ltd, as 0n 1st October, 2017 :
| Particulars | Dr.(Rs.) | Cr.(Rs.) |
| Work in Progress Account | 7,056 | |
| Factory Overhead Suspense Account | 360 | |
| Finlshed Stock Account | 5 274 | |
| Stores Ledger Control Account | 9,450 | |
| Administration Overhead Suspense Account | 180 | |
| General Ledger Adjustment Account | 22,320 |
Transactions for the year ended 30th September, 2017 were :
| Particulars | (Rs.) |
| Stores issued to Production | 45,370 |
| Stores Purchased | 52,400 |
| Material Purchased for direct issue to Production | 1,135 |
| Wages paid (including indirect labour Rs. 2,520) | 57,600 |
| Finished Goods Sold | 1,18,800 |
| Administration Expenses | 5,400 |
| Selling Expenses | 6,000 |
| Factory Overheads | 15,600 |
| Stores issued for Capital Work-in-Progress | 1,500 |
| Finished Goods transferred to Warehouse | 1,08,000 |
| Stores issued for Factory Repairs | 2000 |
| Factory Overheads applied to Production | 16,830 |
| Administration Overheads charged to Production | 4,580 |
| Factory overheads applicable to Unfinished Work | 3,080 |
| Selling Overheads allocated to Sales | 5,500 |
| Stores lost due to fire in stores (Not insured) | 150 |
| Administration expenses on unfinished work | 850 |
| Finished goods stock on 30.09.2017 | 14,274 |
You are required to record the entries in the cost ledger for the year ended 30th September, 2017 and prepare a Trial Balance as on that date.
Rushikesh Engineering Co.'s cost ledger indicates the following opening balance as on 01.01.2015:
| Particulars | (Rs.) | (Rs.) |
| General Ledger-Adjustment Account | - | 15,200 |
| Stores Ledger Control Account | 8,700 | - |
| Work-in-progress Ledger Control Account | 4,300 | - |
| Finished Goods Ledger Control Account | 2,200 | - |
| TOTAL (Rs.) | 15,200 | 15,200 |
At the year end, the following information is obtained :
| Purchase for Stores | - | 57,600 |
| Purchase for Special Jobs | - | 1,700 |
| Direct Wages | 38,600 | |
| Indirect Factory Wages | 9,500 | |
| Administration Salaries | 9,700 | |
| Selling and Distribution Salaries | 4,300 | 62,100 |
| Production Expenses | 12,400 | |
| Administration Expenses | 8,500 | |
| Selling and Distribution Expenses | 5,400 | |
| Stores issued to Production | 54,700 | |
| Stores issued to Maintenance | 2,500 | |
| Returns to Supplier | 200 | |
| Production overheads absorbed by Production | 2,47,500 | |
| Administration Overheads absorbed by Finished Goods | 15,200 | |
| Selling and Distribution Overheads recovered on Sales | 9,600 | |
| Products Finished during the year | 1,17,700 | |
| Finished Goods Sold at cost | 1,32,300 | |
| Finished Goods Sold at cost | 1,50,000 |
You are required to record the entries in the Cost Ledger for the year and prepare a Trial Balance.
Varsha Ltd., maintain.s seperate set of books for financial accounts and cost accounts.
The fowing Information is furnished for the year 2016
| Particulars | (Rs.) |
| Material Control Alc | 60,000 |
| Work-in-progress Control Alc | 90,000 |
| Finished Goods Control Alc | 1,40,000 |
| Cost Ledger Control Alc | 2,90,000 |
| Transactions for the year are : | |
| Matrial Purchased | 6,60,000 |
| Materials issued as : | |
| Direct Materials | 4,50,000 |
| Indirect Materials | 1,20,000 |
| Wages paid allocated as: | |
| Direct Cost | 2,70,000 |
| Indirect Cost | 90,000 |
| Production Expenses | 2,40,000 |
| Value of Finished Goods Produced | 40,80,000 |
| Closing Stock of Finished Goods | 1,20,000 |
| Administration Expenses | 2,40,000 |
| Selling Expenses | 1,80,000 |
| Sales | 18,00,000 |
As on 31st March, 2015, the following balances were extracted from books of the Supreme Manufacturing Company, which follows Non-integrated System of Cost Accounting :
| Particular | (Rs.) | (Rs.) |
| Stores Ledger Control Alc | 56,000 | - |
| Work-in-Progress Control Alc | 56,000 | - |
| Finished Goods Control Alc | 40,000 | - |
| General Ledger Control Alc | - | 1,56,800 |
The following transactions took place in April 2015 :
| Particular | (Rs.) | Particular | (Rs.) |
| Raw Materials : | Indirect Labour | 40,000 | |
| (i) Purchased | 1,52,000 | Factory Overhead expenses incurred | 80,000 |
| (ii) Returned to suppliers | 4,800 | Selling and Administrative Expenses |
64,000 |
| (iii) Issued to production | 1,56,800 | Cost of Finished Goods transferred to warehouse | 3,40,800 |
| (iv) Returned to stores | 4,800 | Cost of Goods sold | 3,36,000 |
| Productive Wages | 64,000 | Sales | 4,80,000 |
Factory overheads are applied to production at 150% of direct wages, any under or over-absorbed overheads being carried forward for adjustment in the subsequent months. All administrative and selling expenses are treated as
period costs and charged off to the Profit and Loss Account of the month in which they are incurred.
Show the following accounts in the Company's books :
(a) General Ledger Control Alc
(b) Stores Ledger Control Alc
(c) Work-in-progress Control Alc
(d) Finished Goods Stock Control Alc
(e) Factory Overhead Control Alc
(f) Costing Profit and Loss Alc
(g) Trial Balance as at 30th April, 2015
As on 31st March, 2015, the following balances existed in Sharad Co. Ltd.'s Cost Ledger :
| Particulars | (Rs.) | (Rs.) |
| Stores Ledger Control Account | 6,02,870 | - |
| Work in Progress Control Account | 2,44,730 | - |
| Finished Stock Ledger Control Account | 5,03,890 | - |
| Manufacturing Overhead Control Account | - | 21,050 |
| Cost Ledger Control Account | - | 13,30,440 |
During the next three months, the following items arose:
| Particulars | (Rs.) |
| Finished Product (At cost) | 4,21,670 |
| Manufacturing Overhead Incurred | 1,83,020 |
| Raw Materials Purchased | 2,46,000 |
| Factory Wages | 1,01,060 |
| Indirect Labour | 43,330 |
| Cost of Sales | 3,71,780 |
| Material Issued to Production | 2,54,630 |
| Sales Return at Cost | 10,760 |
| Material returned to Suppliers | 5,800 |
| Manufacturing Overhead Charged to production | 1,54,400 |
You are required to write up :
(a) Cost Ledger Control Account
(b) Stores Ledger Control Account
(c) Overhead Control Account
(d) Work in Progress Control Account
(e) Finished Stock Ledger Control Account
(f) Trial Balance (indicating, in brief, what each balance represents)
(g) Cost of Sales Alc
