From the following particulars, prepare the following in the books of X Ltd.
I] Statement of equivalent production
II] Statement of apportionment of cost
III] Process Account
A] Opening stock as on 1st August: 200 units @ Rs. 4 per unit
B] Degree of completion: Materials 100%, Labor and Overheads: 40%
C] Units introduced during August: 1,050 units
D] Output transferred to the next process: 1,100 units
E] Closing stock: 150 units
F] Degree of completion: Materials 100%, Labor and Overheads: 70%
G] Other relevant information regarding the process,
|
Materials: |
Rs.3,150 |
|
Labor: |
Rs.4,500 |
|
Overheads: |
Rs.2,250 |