During a given period, 1,50,000 units were completed and transferred to next process: Opening stock : 50,000 units Closing stock : 1,00,000 units Degree of completion for both opening and closing stock: Material 100%, la
CS Executive · Cost and Management Accounting · PYQS · December 2014
During a given period, 1,50,000 units were completed and transferred to next process: Opening stock : 50,000 units Closing stock : 1,00,000 units Degree of completion for both opening and closing stock: Material 100%, labour 50% and overheads 40% Equivalent production units for labour using FIFO method are —
Answer & Explanation:
Correct Answer: Option (C)
Correct answer: (C) 1,75,000 units. FIFO labour equivalents = 50,000×50% + (1,50,000−50,000) + 1,00,000×50% = 1,75,000.
Topics: Process Costing
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