Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Jul 2017 My Price 13.00

opening and closing work in progress

A company manufactures two products, X and Y. A forecast of units to be sold in the first four months of the year is given below.

Particulars

Product X [units]

Product Y [units]

January

1, 000

2, 800

February

1, 200

2, 800

March

1, 600

2, 400

April

2, 000

2, 000

May

2, 400

1, 600

Other information is given below.

Particulars

Product X &
Rs. Per Unit

Product Y- Rs. Per Unit

Direct material

12.50

19.00

Direct labor

4.50

7.00

Factory overheads per unit

3.00

4.00

There will be no opening and closing work in progress [WIP] at the end of any month and finished product [in units] equal to half of the budgeted sale of the next month should be in stock at the end of each month. [including previous year December]

You are required to prepare,

A] Production budget for January to April and

B] Summarized production cost budget.

Answers

(5)
Status NEW Posted 11 Jul 2017 07:07 PM My Price 13.00

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