The manufacture of product "Fanta" requires three distinct processes. On completion of the product is passed from Process 3 to finished stock. During the month of December 1992, the following information was obtained: Elements of Costs Total Rs. Process 1 Process 2 Process 3 Direct materials 26,000 15,000 11,000 - Direct labour 26, 500 12,500 6000 8000 Direct expenses 8,000 3,000 - 5000 Production Overhead 79, 500 Production Overhead is absorbed by processes at a percentage of direct wages. Production during the period was 1,000 kgs. There was no stock of raw materials or work-in-progress at the beginning or at the end of the month.

The manufacture of product "Fanta" requires three distinct processes. On completion of the product is passed from Process 3 to finished stock. During the month of December 1992, the following information was obtained: Elements of Costs Total Rs. Process 1 Process 2 Process 3 Direct materials 26,000 15,000 11,000 - Direct labour 26, 500 12,500 6000 8000 Direct expenses 8,000 3,000 - 5000 Production Overhead 79, 500 Production Overhead is absorbed by processes at a percentage of direct wages. Production during the period was 1,000 kgs. There was no stock of raw materials or work-in-progress at the beginning or at the end of the month.

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Description: The manufacture of product "Fanta" requires three distinct processes. On completion of theproduct is passed from Process 3 to finished stock. During the month of December 1992, thefollowing information was obtained: Elements of Costs Total Rs. Proce

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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