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A factory makes laptops. During June work commenced on 2000 laptops. There were 100 laptops 30%b complete at the start of the month which were completed in June. At the end of the month 200 laptops were 40%b complete. Costs for June were:
Cost brought forward $77,200
cost incurred in June $3,861,000If the factory uses FIFO method, what is the cost per unit of production started and completed in June?
A- $1950
b- $1980
c- $1989
d- $2020Two things:
Firstly, this is not examinable in Paper F5 (only Paper F2), but you have posted it in the F5 forum.
Secondly, why are you attempting questions for which you do not have the answers to? (Unless you have been set this to do yourself, and we are not here to do homework for you 🙂 )
If you watch our Paper F2 lectures on process costing then you will find out how to get the answer.
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