Statement of Cost and Profit1. From the following particulars, prepare a cost statement for the year ende2003 and show what percentage each item of cost bears to the total cost. Calculatefactory expenses at 20% on wages and office expenses at 60% on factory expenses :Rs.70,000Opening Stock of Raw MaterialsPurchases of Raw Materials2,65,000Closing Stock of Raw Materials30,000Freight on Purchases5,000Direct Wages1,85,000Abnormal Idle Time15,000Return of Defective Materials2,000(Answer: Cost of material consumed Rs. 3,08,000, % on total cost 57.85%Rs. 1,70,000, % on total cost 31.93%Factory expensesRs. 34,000, % on total cost 6.39%Rs. 20,400, % on total cost 3.83%.)Cullouing figures, prepare a statement of cost of a manufacturer :Direct wagesOffice expenses​