20-ABC production company calculates production costs according to the phase cost system. The information of the business for the period of June 2021 is as follows: According to the information given above, what is the average equivalent unit cost in terms of general production expenses for the period? a)57 TL/br. B)42 TL/br. NS)30 TL/br. D)122 TL/br. TO)23 TL/br. 8,000 unitsD. head y. finished goods stock:Degrees of Completion 100% in terms of D.I.M.M.D. end y. finished goods stock:Completion Degrees: 100% in terms of D.İ.M.M.6,000 unitsD. 50% in terms of laborD. 60% in terms of laborG.U.G. 50% in terms ofG.U.G. 50% in terms ofProduction started:25,000 units23,000 unitscompleted during the termCosts of Semi-finished Products at the Beginning of the Period557.000 TL203.400 TL295.600 TLCosts of Semi-finished Products at the Beginning of the PeriodDirect First Material and Material Ex. 1.210.000 TLDirect Labor ExpensesGeneral Production ExpensesDirect First Material and Material Ex.Direct Labor ExpensesGeneral Production Expenses436.000 TL872.000 TL

Answered: ABC production company calculates…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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20-

ABC production company calculates production costs according to the phase cost system. The information of the business for the period of June 2021 is as follows:

According to the information given above, what is the average equivalent unit cost in terms of general production expenses for the period?

57 TL/br.

42 TL/br.

NS)

30 TL/br.

D)	122 TL/br.

TO)

23 TL/br.

8,000 units
D. head y. finished goods stock:
Degrees of Completion 100% in terms of D.I.M.M.
D. end y. finished goods stock:
Completion Degrees: 100% in terms of D.İ.M.M.
6,000 units
D. 50% in terms of labor
D. 60% in terms of labor
G.U.G. 50% in terms of
G.U.G. 50% in terms of
Production started:
25,000 units
23,000 units
completed during the term
Costs of Semi-finished Products at the Beginning of the Period
557.000 TL
203.400 TL
295.600 TL
Costs of Semi-finished Products at the Beginning of the Period
Direct First Material and Material Ex. 1.210.000 TL
Direct Labor Expenses
General Production Expenses
Direct First Material and Material Ex.
Direct Labor Expenses
General Production Expenses
436.000 TL
872.000 TL

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Step 1: Introduction

Process costing is a method of cost accounting, which is used where there is continuous production and there are various processes involved to complete the product.

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