The following extract of costing information relates to commodity “A’ for the half year 31st December 2020 1. Purchase of raw materials 1,20,000 48,000 1,00,000 1,440 Seling and distribution overheads are 1 per ton sold 16,000 tons of commodity were produced during the period . 2. Works Overheads 3. Direct wages 4. Carriage on Purchases 5. Stock(1st July, 2020 ) Raw materials Finished products(1,000 tons) 6. Stock(31st Dec, 2020) Raw materials 20,000 16,000 You are to ascetain (i) Cost of raw materials used. (ii) Cost of output for the period, (iii) Cost of sales (iv) Net profit for the period, and (vi) Net profit per ton of the commodity . 22, 240 32,000 Finished products(2,000 tons) Works Overheads (1st july 2020) 4,800 Works Overheads (31st Dec.. 2020) 16,000 Sales-Finished Products 3,00,00

The following extract of costing information relates to commodity “A’ for the half year 31st December 2020 1. Purchase of raw materials 1,20,000 48,000 1,00,000 1,440 Seling and distribution overheads are 1 per ton sold 16,000 tons of commodity were produced during the period . 2. Works Overheads 3. Direct wages 4. Carriage on Purchases 5. Stock(1st July, 2020 ) Raw materials Finished products(1,000 tons) 6. Stock(31st Dec, 2020) Raw materials 20,000 16,000 You are to ascetain (i) Cost of raw materials used. (ii) Cost of output for the period, (iii) Cost of sales (iv) Net profit for the period, and (vi) Net profit per ton of the commodity . 22, 240 32,000 Finished products(2,000 tons) Works Overheads (1st july 2020) 4,800 Works Overheads (31st Dec.. 2020) 16,000 Sales-Finished Products 3,00,00

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4PA: During March, the following costs were charged to the manufacturing department: $14886 for...

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