From the following data of a processing industry, calculate 1) Equivalent Production 2) Cost per unit of equivalent production 3) Cost of units completed and awaiting completion:
|
No. of units introduced in the process |
4,000 |
|
No. of units completed and transferred to the next process |
3,000 |
|
No. of units in the process at the end of the period |
800 |
Stage of completion:
|
Materials |
80% |
|
Labour |
70% |
|
Overheads |
70% |
Normal process loss at the end of the process 200 units
Value of scrap – Re 1 per unit
Value of raw materials – Rs. 7,480
Wages – Rs. 10,680
Overheads – Rs. 7,120