The following information is available from the records of a company engaged in manufacturing a single product.
Question:
The following information is available from the records of a company engaged in manufacturing a single product.
Tabulate the production and cost figures to give quantities, units values and total value for completed output and value of each element of cost for closing work-in-progress. Weighted average method of valuation may be used.
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Opening work-in-process Added during the year Finished during the year Closing work-in-progress Quantity (units) Material Wages Overhead Quantity (units) Material Labour Overhead Quantity (units) Quantity (units) Material: 100% complete Labour and overhead: 1/3 complete 16,000 1,48,000 33,000 29,000 69,000 5,62,000 1,67,000 1,51,000 56,000 24,000
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Related Book For
Management Accounting Text Problems And Cases
ISBN: 9781259026683
6th Edition
Authors: M Y Khan, P K Jain
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