Answer to Question #288070 in Economics for Javeria Munawar

Question

The following is the condensed information from the records of Hilal Manufacturing Company for the month of December 2021.

5000 units in process December 01, 2021 (40% Completed to material & 60% to CC)​Rs. 30,000

Cost incurred during December

Direct Material​​​​​​​​​​Rs. 74,000

Labor​​​​​​​​​​​Rs. 57,600

Applied FOH​​​​​​​​​​Rs. 43,200

The Company has started 13,000 units in December 2021. There are 3000 units in process at the end of month which is 60% completed to material and 80% completed to CC.

Required:

Prepare cost of production report of the company for the month of December 2021 using FIFO method.

Answer 1

Dear Javeria Munawar, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order