Cost Accounting Problems and Solutions
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Isha industries Limited uses a process cost system of there processes. The following data relates to its process-01. Beginning inventor Rs. 174,250 Raw Material used Rs. 297,000 Direct Labour Cost used Rs. 535,000F Factory Overhead Cost Applied Rs. 428,000 The data extracted from a quantity schedule related to the above processes are as follow: UnitsUnites in Process Beginning: 110,000(80% complete as to Material 70% as conversion Cost). Units placed in production 430,000 Units Complete 400,000 Units still process at the end 60% complete as to Material and 75% complete as to conversion cost.
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