4. Prepare the Process Accounts showing the cost per unit at each stage of Production.. Particulars Process I Process II Raw Materials 5000 Units@ OMR 20 Per Unit Wages Direct Expenses Overheads Expenses Normal Loss Scrap value per unit Output 20,000 5,000 60% wages 10% OMR 3 4500 Units 30,000 7,500 40% wages 8% OMR 5 4250 Units Process III 40,000 10,000 30% wages 8% OMR 8 4000 Units

4. Prepare the Process Accounts showing the cost per unit at each stage of Production.. Particulars Process I Process II Raw Materials 5000 Units@ OMR 20 Per Unit Wages Direct Expenses Overheads Expenses Normal Loss Scrap value per unit Output 20,000 5,000 60% wages 10% OMR 3 4500 Units 30,000 7,500 40% wages 8% OMR 5 4250 Units Process III 40,000 10,000 30% wages 8% OMR 8 4000 Units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

4. Prepare the Process Accounts showing the cost per unit at each stage of Production..
Particulars
Process I
Process III
Raw Materials
5000 Units@ OMR
20 Per Unit
Wages
Direct Expenses
Overheads Expenses
Normal Loss
Scrap value per unit
Output
20,000
5,000
60% wages
10%
OMR 3
4500 Units
Process II
30,000
7,500
40% wages
8%
OMR 5
4250 Units
40,000
10,000
30% wages
8%
OMR 8
4000 Units

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Q. 2
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