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Varsha Ltd., Maintain.S Seperate Set of Books for Financial Accounts and Cost Accounts. - Cost Accounting(Financial Accounting and Auditing 10)

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
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Solution

Dr. Cost Ledger Control A/c Cr.
Particulars (Rs.) Particulars (Rs.)
To Costing P & L Alc 18,00,000 By Balance b/d 2,90,000
To Balance c/d 4,50,000 By Store Ledger Control Alc 6,60,000
    By Wages Control Alc 3,60,000
    By Factory Overheads Control Alc 2,40,000
    By Administrative Overheads Control Alc 2,40,000
    By S & D Overheads Control Alc 1,80,000
    By Costing Profit and Loss Alc 2,80,000
Total (Rs.) 22,50,000 Total (Rs.) 22,50,000
Dr. Store Ledger Control A/c Cr.
Particulars (Rs.) Particulars (Rs.)
To Balance b/d 60,000 By WIP Control Alc 4,50,000
To Cost Ledger Control Alc 6,60,000 By Factory Overheads Control Alc 1,20,000
    By Balance c/d 1,50,000
Total (Rs.) 7,20,000 Total (Rs.) 7,20,000
Dr. WIP Ledger Control A/c Cr.
Particulars (Rs.) Particulars (Rs.)
To Balance b/d 90,000 By Finished Goods Ledger Control A/c 10,80,000
To Store Ledger Control Alc 4,50,000 By Balance cld 1,80,000
To Wages Control Alc 2,70,000    
To Factory overhead Control Alc 4,50,000    
Total (Rs.) 12.60,000 Total (Rs.) 12.60,000
Dr. Finished Goods Ledger Control Alc Cr.
Particulars (Rs.) Particulars (Rs.)
To Balance b/d 1,40,000 By Cost of Sale Alc 13,40,000
To WIP Ledger Control Alc 10,80,000 By Balance cld 1,20,000
To Admnistrative  Overheads Control Alc 2,40,000    
Total (Rs.) 14,60,000 Total (Rs.) 14,60,000
Dr. wages Control Alc Cr.
Particulars (Rs.) Particulars (Rs.)
To Cost Ledger Control Alc 3,60,000 By WIP Ledger Control Alc 2,70,000
    By Factory Overheads Control Alc 90,000
Total (Rs.) 3,60,000 Total (Rs.) 3,60,000
Dr. Factory Overheads Control A/c Cr.
Particulars (Rs.) Particulars (Rs.)
To Store Ledger Control Alc 1,20,000 By WIP Ledger Control Alc 4,50,000
To Wages Control Alc 90,000    
To Cost Ledger Control Alc 2,40,000    
Total (Rs.) 4.50,000 Total (Rs.) 4.50,000
Dr. Administrative Overheads Control Alc Cr.
Particulars (Rs.) Particulars (Rs.)
To Cost Ledger Control Alc 2,40,000 By Finished Goods Ledger Control 2,40,000
Total (Rs.) 2,40,000 Total (Rs.) 2,40,000
Dr. Selling Overheads Control A/c Cr.
Particulars (Rs.) Particulars (Rs.)
To Cost Ledger Control Alc 1,80,000 By Cost of Sale Alc 1,80,000
Total (Rs.) 1,80,000 Total (Rs.) 1,80,000
Dr. Cost of Sale Alc Cr.
Particulars (Rs.) Particulars (Rs.)
To Selling & Distribution Overheads Control A/c 1,80,000 By Costing Profit and Loss Alc 15,20,000
To Finish Goods Ledger Control Alc 13,40,000    
Total (Rs.) 15,20,000 Total (Rs.) 15,20,000
Dr. Costing Profit and Loss A/c Cr.
Particulars (Rs.) Particulars (Rs.)
To Cost of Sale A/c 15,20,000 By Cost Ledger Control A/c 18,00,000
To Cost Ledger Control Alc 2,80,000    
Total (Rs.) 18,00,000 Total (Rs.) 18,00,000
Concept: Cost Control Accounts - Ledger
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