Prepare a statement of equivalent production and a statement of cost and process account from the following information:
|
Units introduced: |
7,600 |
|
Output (units) |
6,000 |
|
Process cost: |
|
|
Materials |
14,560 |
|
Labour |
21,360 |
|
Overhead |
14,240 |
Degree of completion of WIP:
|
Material |
80% |
|
Labour |
70% |
|
Overhead |
70% |