. Given below is November's unit and cost data for a manucfacturing firm that uses FIFO costing....

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Given below is November's unit and cost data for a manucfacturing firm that uses FIFO costing. Department 2 Beginning units in process (55% direct materials, 15% conversion costs) Work in process inventory - beginning Rs. Units transferred in during the period Costs transferred in this period Costs added during this period Direct materials Direct Labour Factory overhead Units transferred out to finished goods inventory godown Ending units in process (25% direct materials, 70% conversion costs) Required A] B] Cost added in Department 2: Question - 5 Cost of production report: A company's Department 2 costs for June were; Cost from Department 1........... [B,98R,95R] Calculate the equivalent units for direct materials and conversion costs. Prepare the COST ACCOUNTED FOR section of the cost of production report for department 2. Materials. Labor....... REQUIRED: a) Rs. Rs. Equivalent Production Unit b) 135,000 472,500 420,000 588,000 812,700 676,260 487,305 430,000 125,000 Factory overhead The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of June were 50% complete as to materials cost and 25% complete at to conversion cost. Assume Any Method of your Choice (FIFO or Weighted Average) [MU:E1]=[B,03] ...Rs. 16,320 43,415 56,100 58,585 Unit Cost at Depart 2, Given below is November's unit and cost data for a manucfacturing firm that uses FIFO costing. Department 2 Beginning units in process (55% direct materials, 15% conversion costs) Work in process inventory - beginning Rs. Units transferred in during the period Costs transferred in this period Costs added during this period Direct materials Direct Labour Factory overhead Units transferred out to finished goods inventory godown Ending units in process (25% direct materials, 70% conversion costs) Required A] B] Cost added in Department 2: Question - 5 Cost of production report: A company's Department 2 costs for June were; Cost from Department 1........... [B,98R,95R] Calculate the equivalent units for direct materials and conversion costs. Prepare the COST ACCOUNTED FOR section of the cost of production report for department 2. Materials. Labor....... REQUIRED: a) Rs. Rs. Equivalent Production Unit b) 135,000 472,500 420,000 588,000 812,700 676,260 487,305 430,000 125,000 Factory overhead The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of June were 50% complete as to materials cost and 25% complete at to conversion cost. Assume Any Method of your Choice (FIFO or Weighted Average) [MU:E1]=[B,03] ...Rs. 16,320 43,415 56,100 58,585 Unit Cost at Depart 2,

Answer rating: 100% (QA)

A Direct Materials Conversion Costs Work in process inventoryBeginning 45 M 85 CC 60750 114750 Units ... View the full answer