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Q. No. 01 (9 + 9 Marks)
“Cost of Production Report”
Model Manufacturing Company manufactures a product by using process cost system.
The manufacturing process of the organization is carried on by two departments -
Department A and Department B. Production statistics of Department A for December
show the following data:
Units in process - Sep. 01 1,500
Units completed and transferred 5,000
Units put into process 7,000
Units lost abnormally 600
(100% as to material & 35 % as to conversion cost)
Normal loss (units) 400
Units in process - Sep. 30 2,500
Production Costs of Department A
Cost of Work in process (Sep. 01) Rs.
Factory overhead 4,000
Costs incurred during month:
Factory overhead 2,790
o Opening work in process units: completed as to material 100% and
conversion cost 55%.
o Closing work in process units: completed 100 % as to material while to
40 % of Units were 60 % complete
45 % of Units were 40 % complete
Remaining Units were 25 % complete
Virtual University of Pakistan (Fall semester 2011)
You are required to calculate the total cost accounted for Department A under:
1. FIFO cost method.
2. Weighted average cost method.
Q. No. 02 (4 + 4 + 4 Marks)
“Joint Product & By Product”
Hypothetical Company manufactures different products such as A, B, C, D & E jointly.
During the month of November 2011, the company manufactures 16,300 units. A total
cost of Rs. 16,790 was incurred to produce these units.
Further information is provided as:
Prod. Qty. Mfg. P/U Sale Price Units Sold Further cost needed
(%) (Rs.) (Grams) (Rs. P/U)
A 34 4 5,542 1.1
B 28 3 4,564 0.9
C 19 2 3,097 0.6
D 12 6 1,956 1.5
E 7 5 1,141 1.3
Required: You are required to allocate the above cost on the basis of:
• Physical quantity ratio method
• Selling price ratio method
• Hypothetical market value method
All Supporting Formulas and calculations are required as they carry marks.
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Please Discuss here about this assignment.Thanks
Taiq bahi assignment ke solutin upload karo na
still no solution of cost assignment ?
tody is the final day of assignment plzzzzzzzzzzzzzzzz upload solutin for help
plzzzz upload the solution
Physical Quantity ratio method.
19790/16300 x 5542 5708.59
16790/16300 x 4564 4701.19
16790/16300 x 3097 3190.09
16790/16300 x 1956 2014.78
16790/16300 x 1141 1175.28 16790
Selling Price method.
4 * 5542 = 22168
3 * 4564 = 13692
2 * 3097 = 6194
6 * 1956 = 11736
5 * 1141 = 5705
sabir gud keep it up :-)
tariq bahi plz upload complet solution
any one who have solved this assignment please upload or give hint.
us k wait krn sirf 2 ganta reh giya ha