Calculate Equivalent Production Unit for Conversion Cost (FIFO Method)
The following information was taken from the books of Hunza Manufacturing Company for the month of January 2016
Cost of Units in process at beginning: January 1, 2016 Rs. 50,000
Cost of Raw Material used 148,000
Direct Labour cost incurred 115,200
The data extracted from the production report relating to above process are as follows:
Units in process at beginning of January
[40% complete as to material and 60% complete as to conversion cost] 5,000 units
Units placed in production during January 13,000 units
Units in process at end of January 31
[60% complete as to material and 80% as to conversion cost] 3,000 units.
Required:
Calculate Equivalent Production Unit for Conversion Cost (FIFO Method)
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