I have attached the question. Fully working for each calculation are required. Thank you
Home Makers uses an operating costing system and produces two products.
The same conversion cost is charged to all products passing through a common process.
Details for the month of March are:
Cutting Assembly Painting
Direct Materials - Product A $88,000
Direct Materials - Product B $66,000 $1,600
Direct Labour $33,000 $51,600 $12,000
Machine Hours Worked 9,000 4,200 1,080
Units Commenced and Completed:
Product A 10,000 10,000
Product B 5,000 5,000 2,000
Both products commence production in Cutting before passing to Assembly. Product A is then transferred to finished goods. Only Product B is painted.
There were no opening inventories of either product of work in process or finished goods.
At 31 March, 5,000 units of Products B were completely assembled, but only 2,000 of these had been transferred to Painting and had completed that operation.
Factory overhead is applied in all operations at the rate of $4 per machine hour.
1 Calculate the cost per unit for each product (round to two decimal places).
2 Calculate the total costs of all completed production.
3 Calculate the total value of work in process for Product B at the end of the assembly
Show workings for all calculations made.