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A、company produces a certain food item in a manufacturing process. On 1 November, there was no opening inventory of work in process. During November, 500 units of material were input to the process, with a cost of $9,000. Direct labour costs in November were $3,840. Production overhead is absorbed at the rate of 200% of direct labour costs. Closing inventory on 30 November consisted of 100 units which were 100% complete as to materials and 80% complete as to labour and overhead. There was no loss in process. 60 【单项选择题】 What is the full production cost of completed units during November?
A、$10,400
B、$16,416
C、$16,800
D、$20,520
A、company produces a certain food item in a manufacturing process. On 1 November, there was no opening inventory of work in process. During November, 500 units of material were input to the process, with a cost of $9,000. Direct labour costs in November were $3,840. Production overhead is absorbed at the rate of 200% of direct labour costs. Closing inventory on 30 November consisted of 100 units which were 100% complete as to materials and 80% complete as to labour and overhead. There was no loss in process. 60 【单项选择题】 What is the full production cost of completed units during November?
A、$10,400
B、$16,416
C、$16,800
D、$20,520
【参考答案及解析】
Step 1. Determine output and losses Equivalent units Input Output Total Materials Labour and overhead Units Units Units % Units % Finished units (balance) 400 400 100 400 100 500 Closing inventory 100 100 100 80 80 500 500 500 480 Step 2. Calculate the cost per equivalent unit Equivalent production Cost per Input Cost in units unit $ $ Materials 9,000 500 18 Labour and overhead 11,520 480 24 42 Step 3. Calculate total cost of output
Step 1. Determine output and losses Equivalent units Input Output Total Materials Labour and overhead Units Units Units % Units % Finished units (balance) 400 400 100 400 100 500 Closing inventory 100 100 100 80 80 500 500 500 480 Step 2. Calculate the cost per equivalent unit Equivalent production Cost per Input Cost in units unit $ $ Materials 9,000 500 18 Labour and overhead 11,520 480 24 42 Step 3. Calculate total cost of output