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    quiz 2 2021

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    Quiz 2 2021

    Uploaded by

    Kimi Kyoko

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    © All Rights Reserved
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    of 1

    MBA 2022, MANAC

    Quiz 2
    Sugam ltd manufactures an antacid product that passes through two departments. Data for
    May for the first department follow:

    Gallons Materials Labour Overhead


    Work in process, May 1 80,000 Rs 68,600 Rs 30,000 Rs 48,000
    Gallons started in process 760,000
    Gallons transferred out 790,000
    Work in process, May 31 50,000
    Cost added during May Rs 907,200 Rs 370,000 Rs 592,000

    The beginning work in process inventory was 70% complete with respect to materials and
    75% complete with respect to labour and overhead. The ending work in process inventory
    was 80% complete with respect to materials and 20% complete with respect to labour and
    overhead.

    Required:

    Assume that the company uses the weighted-average method of accounting for units and
    costs.
    1. Compute the equivalent units for May’s activity for the first department.
    2. Determine the costs per equivalent unit for May.
    3. Calculate of (i) Cost of units completed and (ii) Cost of closing WIP of the
    Department.
    (2.5+2.5+2.5+2.5)

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