The following information is available regarding process A for themonth of February, 2019 :Production Record ;Units in process as on 1-2-2019 (all materials used,25% complete for labour and overheads)New units introducedUnits completedUnits in process as on 28-2-2019 (all materials used,Атоunt ($)4,00016,00014,00033,% complete for labour and overhead6,000Cost Record:WIP as on 1-2-2019MaterialsАтоunt ($)6,0001,0001,000LabourOverheads8,000Cost During the Month :MaterialsLabourАтоunt ($)25,60015,00015,000Overheads55,600Presuming the average method of inventory is used, prepare :(i) Statement of equivalent production(ii) Statement showing cost of each element

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Description: The following information is available regarding process A for themonth of February, 2019 :Production Record ;Units in process as on 1-2-2019 (all materials used,25% complete for labour and overheads)New units introducedUnits completedUnits in proce

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The following information is available regarding process A for the month of February, 2019 : Production Record; Units in process as on 1-2-2019 (all materials used, 25% complete for labour and overheads) New units introduced Amount ($) 4,000 16,000 14,000 Units completed Units in process as on 28-2-2019 (all materials used, 33% complete for labour and overhead 6,000 Cost Record: WIP as on 1-2-2019 Materials Атount ($) 6,000 1,000 1,000 Labour Overheads 8,000 Cost During the Month : Materials Labour Overheads Атоunt ($) 25,600 15,000 15,000 55,600 Presuming the average method of inventory is used, prepare : (i) Statement of equivalent production (ii) Statement showing cost of each element

The following information is available regarding process A for the month of February, 2019 : Production Record; Units in process as on 1-2-2019 (all materials used, 25% complete for labour and overheads) New units introduced Amount ($) 4,000 16,000 14,000 Units completed Units in process as on 28-2-2019 (all materials used, 33% complete for labour and overhead 6,000 Cost Record: WIP as on 1-2-2019 Materials Атount ($) 6,000 1,000 1,000 Labour Overheads 8,000 Cost During the Month : Materials Labour Overheads Атоunt ($) 25,600 15,000 15,000 55,600 Presuming the average method of inventory is used, prepare : (i) Statement of equivalent production (ii) Statement showing cost of each element

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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