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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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Replies to This Discussion

PArt-1

unit start in process= 24000

unit complete and transfer to next department =14000

unit still in process =8000

unit loss in process = 2000

Normal loss 24000

PArt-2

unit complete +%unit still in process

material=14000+(8000×25%) 2000=16000

labor= 14000+(8000×50%) 4000= 18000

foh=14000+ (8000×50%) 4000= 18000

Part-3

schedule per unit cost

material= 180,000÷16000=11.25

labor= 140,000÷18000= 7.777776

foh= 100,000÷18000= 5.555556

i hope ye sahi ho

any one can share complete and right solution

This solution is right.

Part-1

unit start in process= 24000

unit complete and transfer to next department =14000

unit still in process =8000

unit loss in process = 2000

Normal loss 24000

Part-2

unit complete +%unit still in process

material=14000+(8000×25%) 2000=16000

labor= 14000+(8000×50%) 4000= 18000

Foh=14000+ (8000×50%) 4000= 18000

Part-3

schedule per unit cost

material= 180,000÷16000=11.25

labor= 140,000÷18000    = 7.777776

Foh= 100,000÷18000      = 5.555556



ru sure??

MGT402 solution

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