Prepare a statement of equivalent production, Accounting Basics

Prepare a statement of equivalent production

Question:

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%

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Accounting Basics: Prepare a statement of equivalent production

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Accounting Basics: Prepare a statement of equivalent production

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