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    Mufeed's Avatar
    Mufeed Posts: 1, Reputation: 1
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    #1

    Jun 22, 2010, 02:00 AM
    Accounting And financial Question And Answer
    Question
    1-A company operates a process system to produce product X.
    The following data is available taken from the month of june:
    KG OMR
    Material introduced into the process 1000 4150
    Direct labour 3380
    Closing stock 150
    Transferred to finished goods 750

    Notes:
    a) Production overheads are to be cgarged at 75% of direct labour
    cost.

    b) Inspection takes place at the end of the process.A 10% loss of
    units introduced into the process is expected.

    c) Closing stock is 60% complete as regards conversion cost (i.e.
    labour and overheads) and 100% complete as regards material.

    Required

    You are required to prepare a process account for the period
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jun 23, 2010, 01:19 AM

    Please see the guidelines for posting homework in the red print posted at the top of this forum.
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