Question 2

Al Yaqoobis Power tools (SAOG) uses the process costing system. The following data, taken from the organisations book, reflects the results of manufacturing operations during the month of September 2021 in its only department machining;

Production Costs

Work in progress, beginning of period:

Materials 5200

Labour 4600

Factory Overhead 2000 11,800

Costs during the month:

Materials 20000

Labour 2000

Factory Overhead 12000 47,000

Total 58,800

Production Report

Finished and transferred to stockroom during the month 19000 Units

Work-in-progress, end of period, 4000 units, and one-fourth completed.

Required

Prepare a Cost of production Summary for September 2021.