34 TP 8. A manufacturing concern requires a statement of cost and profit for the year of 2075. Cost records give the following information. Raw material Finished goods Work-in-progress Purchase of raw materials Direct wages Works expenses Administration expenses Selling and distribution expenses Sales Required: Cost sheet showing: (a) Materials consumed. (c) Factory cost incurred and factory cost. Opening balance Rs. 100,000 Rs. 71,500 Rs. 31,000 Closing balance Rs. 123,500 Rs. 42,000 Rs. 34,500 During the year 1 1 Rs. 88,000 - 70.000 37,500 13,000 15,000 284,000 (b) Prime cost. (d) Profit. 1215006) B 172.000 and Bs 168.500 (d) Rs. 58,000​