In: Accounting
Question 2
In a given period the production data and costs for a process
were:
Production: 2100 units fully complete.
700 units partly complete.
The degree of completion of the partly complete units was:
Material 80% complete
Labour 60% complete
Overheads 50% complete
The costs for the period were:
Material P24 800
Labour P16 750
Overheads P36 200
Required:
(a) Calculate the total equivalent production units
(b) Calculate the cost per complete unit
(c) Determine the value of W-I-P