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In March 2020, Chester Bhd purchased material costing RM28,000 and incurred direct labour cost of RM40,000. Manufacturing overhead amounted RM 72,000 for the month. Other information pertaining to production are as follows:     1 March 2020 31 March 2020 Materials 16,200 4,600 Work in Process 2,400 18,000 Finished Goods 14,000 13,000   Requirement:   Determine the cost of raw materials used in the production Calculate the prime cost Calculate the cost of goods manufactured for March 2020

In March 2020, Chester Bhd purchased material costing RM28,000 and incurred direct labour cost of RM40,000. Manufacturing overhead amounted RM 72,000 for the month. Other information pertaining to production are as follows:     1 March 2020 31 March 2020 Materials 16,200 4,600 Work in Process 2,400 18,000 Finished Goods 14,000 13,000   Requirement:   Determine the cost of raw materials used in the production Calculate the prime cost Calculate the cost of goods manufactured for March 2020

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...
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  1. In March 2020, Chester Bhd purchased material costing RM28,000 and incurred direct labour cost of RM40,000. Manufacturing overhead amounted RM 72,000 for the month. Other information pertaining to production are as follows:

 

 

1 March 2020

31 March 2020

Materials

16,200

4,600

Work in Process

2,400

18,000

Finished Goods

14,000

13,000

 

Requirement:

 

  1. Determine the cost of raw materials used in the production
  2. Calculate the prime cost
  3. Calculate the cost of goods manufactured for March 2020

 

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