Prepare Manufacturing, Trading and Profit and Loss Account from the following figures relating to the year ending 31st march, 2015

Prepare Manufacturing, Trading and Profit and Loss Account from the following figures relating to the year ending 31st march, 2015:

 

	01-04-2014	31-03-2015
Stock:
Finished Goods	33,000	27,500
Raw Materials	16,000	18,300
Work-in-progress (at prime cost)	11,100	9,400

Particulars	Amoutn (Rs.)
Purchase of Materials	1,50,900
Carriage on Purchases	4,100
Wages	65,000
Factory Salaries	26,000
Office Salaries	18,000
Repairs & Maintenance on Machinery	8,300
Repairs & Maintenance on Office Equipment
Office Equipment	1,700
Depreciation on Machinery	25,000
Depreciation on Office Equipment	8,100
Sundry Expenses (Factory)	5,300
Sundry Expenses (Office)	17,800
Sales	3,60,000

It is firm's practice to transfer goods from the factory to the sales godown at cost plus 10%.

Manufacturing Account

for the year ended 31st March, 2015

Particulars		Amount	Particulars	Amount
To Material Consumed			By Trading A/c (Transfer)	3,12,400
Opening Stock	16,000
Add: Purchases	1,50,900
Carriage on Purchases	4,100
	1,71,000
Less: Closing Stock	18,300	1,52,700
To Wages		65,000
To Work in Progress
Opening	11,100
Less: Closing	9,400	1,700
To Works Indirect Expenses:
Factory Salaries	26,000
Repairs and Maintenance (Machinery)	8,300
Depreciation (Machinery)	25,000
Sundry Expenses (Factory)	5,300	64,600
Profit & Loss A/c (Wages + Expenses = 2,19,400 + 64,600 = 2,84,000, 10% of Rs.2,84,000 i.e. cost of goods produced)	28,400
	3,12,400			3,12,400

Trading Account

for the year ended 31st March, 2015

Particulars		Amount	Particulars	Amount
To Cost of Finished Goods:			By Sales (Finished Goods)	3,60,000
Opening Stock	33,000
Add: Manufacturing Account (Transferred)	3,12,400
	3,45,400
Less: Closing Stock	27,500
	3,17,900
To Gross Profit c/d	42,100
	3,60,000			3,60,000

Profit and Loss Account

for the year ended 31st March, 2015

Particulars	Amount	Particulars	Amount
To Office Salaries	18,000	By Gross Profit b/d	42,100
To Repairs and Maintenance (Office equipment)	1,700	By Manufacturing Account (Profit)	28,400
To Depreciation (Office equipment)	8,100	By Stock Reserve	500
To Sundry Expenses (Office)	17,800
To Net Profit transferred to Capital Account	25,400
	71,000		71,000