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Cost and Management Accounting( Mgt 402)....Assignment no 1 ..(Start date :12 july,2016....End date:18 july,2016)....Marks :10

SEMESTER SPRING 2016

COST &MANAGEMENT ACCOUNTING (MGT402)

ASSIGNMENT # 01

DUE DATE: 18th July, 2016 MARKS: 10

TOPIC TO BE TESTED:

 Cost of Production Report.

LEARNING OBJECTIVES:

 To understand the Cost of Production Report (CPR) in terms of units schedule,

equivalent units produced and per unit cost.

ASSIGNMENT QUESTION:

Company ABC instituted a new process in March, during which it started 24,000 units in

department A. During the month 14,000 units were completed and transferred to the

department B. 8000 units (completed 25% with respect to materials and completed 50%

with respect to labor and FOH) were still in the process at the end of March. Remaining

units were destroyed (normal loss) during processing. Costs incurred by the department A

were: materials Rs. 180,000, labor Rs. 140,000 and FOH Rs. 100,000

Required:

By considering the above information, you are required to prepare

1. Quantity schedule for “Department A”

2. Schedule of Equivalent Units Produced for “Department A”

3. Schedule of per unit cost calculations for “Department A”

IMPORTANT:

Grace period of extra 24 hours after the due date is usually available to

overcome uploading difficulties. This extra time should only be used to meet

the emergencies and above mentioned due dates should always be treated as

final to avoid any inconvenience.

IMPORTANT INSTRUCTIONS

 Take help from internet for collecting the information.

 Carefully watch relevant lectures and consult the relevant material

from handouts along with recommended books.

 Attempt the assignment by yourself and it will be entertained

positively.

OTHER IMPORTANT INSTRUCTIONS:

DEADLINE:

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accepted.

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RULES FOR MARKING

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etc.

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Arbab, Meri b Same calculations ai hen

....

Jamal Ahmed Khan email, cell no sharing is not allowed at the site next time be care.thanks 

Dear Students Don’t wait for solution post your problems here and discuss ... after discussion a perfect solution will come in a result. So, Start it now, replies here give your comments according to your knowledge and understandings....

Sir but no productive Idea has shared yet. plz guide

Dep A

 Quantity schedule

Units started in process                                   24,000

 

Units complete                                    14,000

 

Units In process                                  8,000

 

Units Lost                                           2,000

                                                                        24,000

 

 

Schedule of Equivalent Units Produced for “Department A”

Direct material       24,000+(8,000*25%)                   = 26,000

Direct Labor           24,000+(8,ooo*50%)                   =28,000

FOH                       24,000+(8,000*50%)                   =28,000

 

 

 

 

 

Schedule of Per Units Cost for “Department A”

 

 

Direct Material                        180,000/26,000                       = 6.92

Labor                                       140,000/28,000                       = 5.00

FOH                                        100,000/28,000                       = 3.57

                                                                                      15.49

Cost of units transfer to next department

            14,000*15.49      =  216,860

                  

 

 

 

 

  bare afsoos ki bath hai, people proudly saying they have done it but dont have guts to share..................ye lo

U R GREAT JAMAL
JAZAK ALLAH

bus 1st pert sahi hai baqi 2nd aur 3rd dono ghalt hain jamal sahab 

right zahid

zubair bro ri8 or wrong hi krte rehein gae ya kuch share b krein gae?? if u done than plz share solution idea 

ye wrong solution hai

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