Question
In: Accounting
The following transactions relate to the AKHTER CORP. for the month of November 2015:
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.
Solutions
Expert Solution
|
Particulars |
Product A |
Product B |
|
Direct material cost |
10000*4 = $40,000 |
8000*3 = $24,000 |
|
Direct labour cost |
10000*10 = $100,000 |
8000*20 = $160,000 |
|
Prime cost |
$140,000 |
$184,000 |
Prime costs of Product A is $140,000 and Prime costs of Product B is $184,000.
Prime costs = Direct material cost + Direct labour cost
DEEPIKA GOYAL answered 2 years agoRelated Solutions
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