homework

A company produces three products A, B and C for which the standard costs and quantities per unit are as follows: Products A B C Quantity produced 10,000 20,000 30,000 Direct material/p.u. (Rs.) 50 40 30 Direct labour/P.u. (Rs.) 30 40 50 Labour hours/P.u. 3 4 5 Machine hours/p.u. 4 4 7 No. of purchase requisitions 1,200 1,800 2,000 No. of set ups 240 260 300 Production overhead split by departments Department 1 = 11,00,000 - Department 2 = 15,00,000 Department 1 is labour intensive and department 2 is machine intensive Total labour hours in Department 1 = 1,83,333 Total machine hours in department 2 = 5,00,000 Production overhead split by activity receiving/inspecting Rs. 14,00,000 - Production scheduling/machine set up Rs. 12,00,000 Rs. 26,00,000 No. of batches received/inspected = 5,000 No. of batches for scheduling and set up = 800 You are required to: (i) Prepare product cost statement under traditional absorption costing and Activity based costing method