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The following transactions relate to the AKHTER CORP. for the month of November 2015:     Product - A Product – B Production 10,000 units 8,000 units Beginning Inventory 1,000 units 900 units Ending Inventory 2,000 units 100 units   Unit Cost applicable to inventories and Production   Direct Material Rs. 4 per unit Rs.  3 per unit Direct Labour Rs. 10 per unit Rs. 20 per unit Factory Overhead Rs. 7 per unit Rs. 14 per unit   Actual FOH was Rs. 182,400, under or over applied factory overhead is to be adjusted in Cost of Goods Sold.   Calculate Prime Cost.

The following transactions relate to the AKHTER CORP. for the month of November 2015:     Product - A Product – B Production 10,000 units 8,000 units Beginning Inventory 1,000 units 900 units Ending Inventory 2,000 units 100 units   Unit Cost applicable to inventories and Production   Direct Material Rs. 4 per unit Rs.  3 per unit Direct Labour Rs. 10 per unit Rs. 20 per unit Factory Overhead Rs. 7 per unit Rs. 14 per unit   Actual FOH was Rs. 182,400, under or over applied factory overhead is to be adjusted in Cost of Goods Sold.   Calculate Prime Cost.

FINANCIAL ACCOUNTING
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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The following transactions relate to the AKHTER CORP. for the month of November 2015:

 

 

Product - A

Product – B

Production

10,000 units

8,000 units

Beginning Inventory

1,000 units

900 units

Ending Inventory

2,000 units

100 units

 

Unit Cost applicable to inventories and Production

 

Direct Material

Rs. 4 per unit

Rs.  3 per unit

Direct Labour

Rs. 10 per unit

Rs. 20 per unit

Factory Overhead

Rs. 7 per unit

Rs. 14 per unit

 

Actual FOH was Rs. 182,400, under or over applied factory overhead is to be adjusted in Cost of Goods Sold.

 

Calculate Prime Cost.

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