Hi,
Please find the following whether i have done this correct or not, if not please correct me, last year i have taken Excise Duty on FG -ve, now it comes +ve, please ... tell me the reasons, if iam please correct me.
| For the | For the | |
| Year Ended | Year Ended | |
| 31.03.2011 | 31.03.2010 | |
| MATERIAL CONSUMPTION | ||
| Raw Material consumed | ||
| Opening Stocks | 82,074 | - |
| Purchases | 1,071,879 | 280,633 |
| 1,153,953 | 280,633 | |
| Less: Material consumption capitalised | (9,362) | (2,792) |
| 1,144,591 | 277,841 | |
| Less : Closing Stocks | (251,827) | (82,074) |
| Raw Material consumed | 892,764 | 195,767 |
| (Increase ) in Stocks | ||
| ( other than raw material ) | ||
| Opening Stocks | ||
| Work in Progress | 6,801 | - |
| Finished Goods | 38,261 | - |
| Scrap | 1,940 | - |
| 47,002 | - | |
| Closing Stock | ||
| Work in Process | 83,419 | 6,801 |
| Finished Goods | 65,985 | 38,261 |
| Scrap | 1,020 | 1,940 |
| 150,424 | 47,002 | |
| ( Increase ) / decrease in Stocks | (103,422) | (47,002) |
| ( Increase ) / decrease in Excise Duty | 177 | (4,147) |
| 789,519 | 144,618 |
CAclubindia
