Following details are related to the work done in Process-1 of Walker Ltd. during the month...

 

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Following details are related to the work done in Process-1 of Walker Ltd. during the month of January, 2014: (²) Opening work-in progress (1,500 units) Materials Labour Overheads Materials introduced in Process-1 (35,000 units) Direct Labour Overheads Units scrapped: 1,800 units Degree of completion: Materials Labour and overheads Closing work-in progress: 1,500 units Degree of completion : Materials Labour and overheads Units finished and transferred to Process-11: 32,000 units Normal Loss: 5% of total input including opening work-in-progress. Scrapped units fetch 8 per piece. 60,000 35,000 30,000 14,00,000 3,46,000 6,37,000 You are required to prepare : (i) Statement of equivalent production (ii) Statement of costs (iii) Statement of distribution of costs and (iv) Process-1 Account, Normal and Abnormal Loss Accounts. 100% 80% 100% 80% Following details are related to the work done in Process-1 of Walker Ltd. during the month of January, 2014: (²) Opening work-in progress (1,500 units) Materials Labour Overheads Materials introduced in Process-1 (35,000 units) Direct Labour Overheads Units scrapped: 1,800 units Degree of completion: Materials Labour and overheads Closing work-in progress: 1,500 units Degree of completion : Materials Labour and overheads Units finished and transferred to Process-11: 32,000 units Normal Loss: 5% of total input including opening work-in-progress. Scrapped units fetch 8 per piece. 60,000 35,000 30,000 14,00,000 3,46,000 6,37,000 You are required to prepare : (i) Statement of equivalent production (ii) Statement of costs (iii) Statement of distribution of costs and (iv) Process-1 Account, Normal and Abnormal Loss Accounts. 100% 80% 100% 80%

Answer rating: 100% (QA)

i Input Statement of Equivalent Production Units Opening 1500 WIP Uni... View the full answer