Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Zee manufacturing company produces a single product which goes through one process only. The manufacturing cycle takes a month. The company started its manufacturing
The Zee manufacturing company produces a single product which goes through one process only. The manufacturing cycle takes a month. The company started its manufacturing operation on 1st February, 2018 and costs of production for this month were as follows:
Material Rs. 41,412
Labor Rs. 32,054
FOH Rs. 23,870
The production statistics for the month were as follow:
Units completed and transfer to finished goods store Rs. 6,500
Unit in Process on February 31, 2018 was 1,600 (Material 40%, Labor and FOH 20 per cent)
FIND THE FOLLOWING:
1. How much was the total costs charged to the department?
2. What is the Equivalent Units Produced for the Materials?
3. What is the EUP for the Conversion Costs?
4. How much is the total unit cost?
5. How much is the cost of goods accounted for?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started