Question

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.

Answer 1

Dr.

Stores Ledger Control A/c

Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d.	9,450	By WIP A/c	45,370
To Gen. Led. Adj- A/c	52,400	By Capital WIP A/c	1,500
		By FOS No	2,000
		By Costing P & L No - Stores Lost	150
		By Balance c/d	12,830
Total Rs.	61,850	Total Rs.	61,850

Dr.

Wages Control A/c (WC)

Cr.

Particulars	Rs.	Particulars	Rs.
To Gen. Led. Adj. A/c	57,600	By was No - Direct Wages	55,080
		By FOS A/c	2,520
Total Rs.	57,600	Total Rs.	57,600

Dr.

Factory Overhead Suspense A/c (FOS)

Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	360	By WIP A/c	16,830
To wc A/c	2,520	By WIP A/c	3,080
To Gen. Led. Adj. A/c	15,600	By Balance c/d	570
To SLC A/c	2,000
Total Rs.	20,480	Total Rs.	20,480

Dr.

Administration Overhead Suspense A/c (AOS)

Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	180	By WIP A/c	4,580
To Gen. Led. Adj. A/c	5,400	By WIP A/c	850
		By Balance c/d	150
Total Rs.	5,580	Total Rs.	5,580

Dr.

Selling Overhead Suspense A/c (SOS)

Cr.

Particulars	Rs.	Particulars	Rs.
To Gen. Led. Adj. No	6,000	By cos	5,500
		By Balance c/d	500
Total Rs.	6,000	Total Rs.	6,000

Dr.

Work-in-Progress

Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	7,056	By FS A/c	1,08,000
To SLC A/c	45,370	By Balance b/d
To GLA A/c	1,135	Material & Wages (Balancing Figure)   22,051 FOS                         3,080 AOS                           850	25,981
To WC A/c	55,080
To FOS A/c	16,830
To AOS A/c	4,580
To FOS A/c	3,030
To AOS A/c	850
Total Rs.	1,33,981	Total Rs.	1,33,981

Dr.

Finished Stock A/c (FS)

Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	5,274	By Cost of Sales (Balancmg Figure)	99,000
To WIP A/c	1,08,000	By Balance C/d	14’274
Total Rs.	1,13,274	Total Rs.	1,13,274

Dr.

Cost of Sales A/c (COS)

Cr.

Particulars	Rs.	Particulars	Rs.
To FS A/c	99,000	By Costing P & L A/c	1,04,500
To sos A/c	5,500
Total Rs.	1,04,500	Total Rs.	1,04,500

Dr.

Capital Work-in-Progress A/c

Cr.

Particulars	Rs.	Particulars	Rs.
To SLC A/c	1,500	By Balance c/d	1,500
Total Rs.	1,500	Total Rs.	1,500

Dr.

General Ledger Adjustment A/c (GLA)

Cr.

Particulars	Rs.	Particulars	Rs.
To Costing P & L A/c	1,18,800	By Balance b/d	22,320
To Balance c/d	55,805	By SLC A/c	52,400
		By WIP A/c	1,135
		By WC A/c	57,600
		By AOS A/c	5,400
		By SOS A/c	6,000
		By FOS A/c	15,600
		By Costing P & L A/c - Net Profit	14,150
Total Rs.	1,74,605	Total Rs.	1,74,605

Dr.

Costing Profit and Loss A/c

Cr.

Particulars	Rs.	Particulars	Rs.
To SLC A/c	150	By GLA A/c — Sales	1,18,800
To COS A/c	1,04,500
To GLA A/c — Net Profit	14,150
Total Rs.	1,18,800	Total Rs.	1,18,800

Trial Balance as on 30.09.2017

 

Particulars	Debit(Rs.)	Credit(Rs.)
Stores Ledger Control A/c	12,830
Factory Overhead Suspense A/c	570
Admn. Overhead Suspense A/c	570
Selling Overhead Suspense A/c	500
Work-in—Progress A/c	25,981
Finished Stock A/c	14,274
Capital Work-in-Progress A/c	1,500
General Ledger Adjustment A/c		55,805
Total Rs.	55,805	55,805