35-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 share of general production expenses in the cost of end-of-period semi-finished products? a)96,000 TL B)1.870.000 TL NS)360.000 TL D)192.000 TL TO)648,000 TL Production started : 25,000 unitsCompleted and transferred : 17,000 units8,000 unitsD.I.M.M. in terms of 90%Cnd of period stock of semi-finishea. 60% in terms of laborproducts:Completion Degrees:G.U.G. in terms of 60%June Production ExpensesDirect First Material and Material ExpensesDirect Labor Expenses1.210.000 TL436.000 TLGeneral Production Expenses872.000 TL

Answered: ABC production company calculates…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

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 share of general production expenses in the cost of end-of-period semi-finished products?

96,000 TL

B)	1.870.000 TL

NS)	360.000 TL

D)	192.000 TL

TO)	648,000 TL

Production started : 25,000 units
Completed and transferred : 17,000 units
8,000 units
D.I.M.M. in terms of 90%
Cnd of period stock of semi-finishea. 60% in terms of labor
products:
Completion Degrees:
G.U.G. in terms of 60%
June Production Expenses
Direct First Material and Material Expenses
Direct Labor Expenses
1.210.000 TL
436.000 TL
General Production Expenses
872.000 TL

Expert Solution

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.

Step by step

Solved in 2 steps with 4 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions