management accounting questions

Smart Line (Pvt) Lid. manufactures casual wear. The company has undertaken an order from a foreign customer to supply 1.000 pieces of specialized casual wear and it will be manufactured in Batch No. 1010. The following costs have been incurred by the company for Batch No. 1010: Direct material Rs.300.000/- Direct labour - Cutting Rs.500/- per hour (1.000 labour hours) Direct labour - Finishing Rs. 120/- per hour (1,500 labour hours) The company's overhead absorption rates for the production department are as follows: Department Absorption rate Cutting Rs.25/- per labour hour Finishing Rs.60/- per labour hour You are required to: Calculate the cost per unit of Batch No. 1010. Question No : 02 Pharma Lanka (Pvt.) Lid. manufactures Product P through two consecutive processes. The output of Process I is transferred immediately to Process II. The following information relates to Process I for the month of June 2018: Direct materials introduced to Process I Rs. 1,250,000/- (125,000 units) Direct labour Rs.800,000/- Production overheads Rs.550,000/- Normal loss 10% of material introduced and scrap items can be sold at Rs. 10/- per unit. Output transferred to Process II 110,000 units There was no opening or closing work-in- progress. You are required to: Prepare the Process I account. Question No : 03 Tools Engineering PLC manufactures industrial tools for own specifications of its customers. Job No. AllI was completed during the month of June 2017 and the following information was extracted from the Job Card of Job No. All1: Direct Material consumed: - MRN number 11 - 2,000 kg @ Rs.20/- per kg. - MRN number 22 - 5.000 kg @ Rs. 10/- per kg