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In a given period the production data and costs for a process were:
Production: 2100 units fully complete.
700 units partly complete.
The degree of completion of the partly complete units was:Material 80% complete
Labour 60% complete
Overheads 50% complete
The costs for the period were:
Material P24 800
Labour P16 750
Overheads P36 200
Required:
(a) Calculate the total equivalent production units (9 marks)
(b) Calculate the cost per complete unit (6 marks)
(c) Determine the value of W-I-P (5 marks)There is no point in simply typing out a full question and expecting me to provide you with a full answer.
You must have an answer in the same book in which you found the question, and so you should ask about whatever it is in the answer that you are not clear about – then I will explain.
This is a very standard process costing question and everything needed to be able to produce an answer is explained in my free lectures. The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.
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