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Income Statement as given in Exhibit 1 Balance Sheet as given in Exhibit 2

(Rs. In (Rs. In
thousands) thousands)
Sales 1125000 Sources of funds
Wages 205000 Capital 2500000
Utilities 37500 Loans and advances 525000
Depreciation 97500 Borrowings from bank 1375000
Raw Material purchased 412500 Trade Payables 212500
Insurance 10000 4612500
Rent 125000 Uses of funds
Sales force salary 40000 Machines and equipment(net) 1575000
Office and administrative st 40000 Debtors 402000

Advertising 187500 Cash in hand 375000


Net Operations loss -30000 Cash in bank 582500
Inventory
Raw material 362500
Work-in-progress 387500

Finished Goods 862500


Accumulated loss 65500
4612500

Direct Costs
Direct Labour 30750
Direct cost in factory 298250

Indirect Costs
Indirect Labour 174250
Utilities 26200
Depreciation 58500
Insurance 8000
Rent 106250
Total Overheads 373200

Total Manufacturing Cost 671450

Income Statement
(Rs. In
thousands)
Sales 1125000
COGS
Opening Stock 733125
Manufactured 555250
Closing Stock 862500
425875
Gross Profit(Sales-COGS) 699125
Less other Expenses
Utilities 11250
Depreciation 39000
Rent 18750
Insurance 2000
Sales force salary 40000

Office and administrative


staff salary 40000
Advertising 187500
Total Expenses 338500
Net Profit 360625

Grouping Costs
(Rs. In
thousands)
Direct Material Cost 267500
Direct Labour Cost 30750
Prime Cost 298250
Manufacturing Overheads 257000
Factory or work cost 555250
Other expenses 338500
Cost of Production 893750
Opening Stock of Finished
goods 733125
Closing stock of finished
goods 862500
Cost of Sales 764375
Profit 360625
Sales 1125000
Inventory
%age Opening Closing
Type allocated Stock Stock
Raw Material 60 217500 362500
Work-in-progress 70 271250 387500
Finished Goods 85 733125 862500

RAW MATERIAL
Opening 217500
Purchases 412500
630000
Closing 362500
Raw Material
Consumed 267500

WORK-IN-PROGRESS
Opening 271250
Closing 387500
Total Cost of
finished goods 555250