Question: 1 (a) Zulfiqar Corporation uses the weighted-average method in its process costing system. The work in process inventory at start in its Painting Department consisted of 3,000 units that were 70% complete with respect to materials and 60% complete with respect to conversion costs. The cost of work in process inventory at start in the department was recorded as Rs. 10,000. During the period, 9,000 units were completed and transferred on to the Lock department. The costs per equivalent unit for the period were Rs. 2.00 for material and Rs. 3.00 for conversion costs. The cost of units transferred out during the month was: (b) Javed Corporation produces and sells a single product, has provided its contribution format income statement for March. Sales (17,000 units) Rs. 2,210,000 Variable Expenses 1,530,000 Contribution Margin 680,000 Fixed Cost 250,000 Net Profit 430,000 Number of units to be sold so that target profit of Javed Corporation increased by Rs. 48,000?
Question: 1
(a)
Zulfiqar Corporation uses the weighted-average method in its
The cost of units transferred out during the month was:
(b)
Javed Corporation produces and sells a single product, has provided its contribution format income statement for March.
|
Sales (17,000 units) |
Rs. 2,210,000 |
|
Variable Expenses |
1,530,000 |
|
Contribution Margin |
680,000 |
|
Fixed Cost |
250,000 |
|
Net Profit |
430,000 |
Number of units to be sold so that target profit of Javed Corporation increased by Rs. 48,000?
Step by step
Solved in 7 steps
