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The X limited submits the following information on 31st March 2011:Sales for the yearRs. 2,75.000Imentories at the beginning:Finished goodsRs. 7.000Work in progressRs. 4000Purchase of materialsRs. 1.10,000Materials inventory:at the beginning of the yearRs. 3.000at the end of the yearRs. 4,000Direct labourRs.65.000Factory overheads was 60% of the direct Labour costImentories at the end of the year:Work in progressRs. 6000Finished goodsRs. 8000Other expenses for the year:Selling expenses 10% of the salesAdministrative expenses 5% of the salesYou are required to prepare the cost sheet for X limited. |
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