The following information has been made available of Carson Sdn Bhd for theyear 2021 are as follows.1)The units to be sold are:MonthUnitsJanuaryFebruaryMarch2,2002,2003,400AprilМay3,8005,000June4,6004,000July2)There will be no work in progress at the end of any month.3)Finished goods equal to half of the sales for the next month will be ininventory at the end of every month (including December 2020).4)Budgeted production and production costs for the period ending July2021 are as follows:Production unitsDirect MaterialDirect Wages| Total factory overheads based on units produced44,000RM 10.00 per unitRM 4.00 per unitRM 88,000Prepare a production budget for the first half of the year.

Solution: Production budget for first half of the year is as under:

Answered: The following information has been made…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Dan Wood Ltd commenced business on 1st January 2020 making one product only, which sells for K160 per item. The production and sales data for each of the first three months of 2020 was as follows:JanuaryFebruaryMarch Sales in units2,4002,5003,800 Production in units2,7002,4004,000 Actual information for each month was as follows:Direct materials 3 kilograms at K5 per kilogramDirect labour 4 hours at K10 per hourVariable production overheads 150% of direct labourSales commission 10% of sales valueFixed production overheads K10,000Fixed selling overheads K35,000 There was no opening inventory at the start of January. Fixed production overheads are budgeted at K120,000 per annum and are absorbed into products based on a budgeted normal output of 30,000 units per annum Required:Prepare a profit statement for each of the three months using absorption costing principlesDan Wood Ltd commenced business on 1st January 2020 making one product only, which sells for K160 per item. The production…
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The following information has been made available of Carson Sdn E year 2021 are as follows. 1) The units to be sold are: Month January February March Units 2,200 2,200 3,400 April May June 3,800 5,000 4,600 4,000 July 2) There will be no work in progress at the end of any month.