The following extracted information of ABC Manufacturing Enterprise is given to you: Direct materials ₹12,00,000, Direct wage ₹8,00,000, Factory expenses ₹ 2,00,000, Office and administrative expenses ₹1,10,000. Selling expenses ₹ 88,000 and Profit is 25% on cost. This year company received a quotation to produce a generator, which required ₹12,200 direct materials, ₹ 7,800 direct wages and profit will be charged 20% on selling price. The factory expenses will bear the same relation to direct wage and office expenses to work cost in preceding year. Required: (a) Cost statement; (b) Quotation statement
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