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During November, input 500 unit of DM cost $9000. DL cost $3840. Production Overhead is absorbed 200% of DL cost. Closing inventory 100 unit which were 100% complete as to DM and 80% complete as to labour & Overheard. There is no loss in process.
1) what is the full production cost of completed unit during November?
2) What is the value of closing WIP on November?
You must have an answer to this question in the same book in which you found the questions, so ask about whatever it is in the answer that you are not clear about and then I will explain.
(Unless, of course, you have been set this as a test question, in which case we do not do your homework for you 🙂 )
You can find everything you need to be able to answer this question in my free lectures on process costing. The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.
(Paper F2 is no longer called F2 – it is now Paper MA)
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