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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”

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Solution:

  1. 1.      Quantity Schedule A

Units started in process                                               24000

Units completed in the department                14000

Units still in process                                         8000

Units Lost (Normal)                                        2000

Total                                                                           24000

  1. 2.      Units Produced for “Department A”

 

Direct Material            8000 x (25 % x 180,000)        =53000

Labour                         8000 x (50 % 140,000)            =78000

FOH                            8000 x (50 % 100,000)           = 58000

  1. 3.      Per Unit Cost

 

Direct Material            180,000/53,000=3.4

Labour                         140,000/78,000=1.79

FOH                            100,000/58,000=1.72

Total                                                   6.91

Please check and give views 

wrong

which grp

take lecture 20 example 2 

share the last part

THERE IS NO EXAMPLE 2....IT IS Q.2.....PLZ TELL PAGE NUM.

 zargham page no 137 on handouts 

no wrong 

yes zubair u r right ......lecture 20 example 2 

Assalam o Alaikum dear sis mje cs201 main support chahia

please 

support me

Plz Friends tell me it is right or Wrong 

Quantity schedule for Department "A"

Units started in process                         24,000

Units complete                                     14,000

Units In process                                     8,000

Units Lost                                             2,000

                                                         24,000

right

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