Solution-Create a schedule showing the allocation of joint

Create a schedule showing the allocation of joint cost

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Reference no: EM133092652

Question - D Zeal Ltd. purchases raw material Zigma at Rs. 8 per litre. After getting processed in Department 1, Sigma spilts- off in to Products A, B and C products. Product A is sold at the Split off point with no further processing. Product B and Z are however requiredto be further processed in department 2 and Department 3 respectively. The organization has the policy of not keeping any inventory at the start and at the end of the year for Raw material and Work in process. The details of cost incurred for the year 2019-20 are given below.

Particulars Department	1	2	3
Cost of raw Material	480000
Direct labour	70000	450000	650000
Manufacturing Overheads	48000	210000	450000
Products	A	B	C
Sales (liters)	10000	15000	22500
Closing Inventory (Litres)	5000	0	7500
Sale Price per litre	30	64	50

Required -

1. Create a schedule showing the allocation of joint cost using suitable base for allocation. Justify your selection of the base.

2. Calculate the Cost of Goods sold of each product and the cost of each item in inventory.

Reference no: EM133092652

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Create a schedule showing the allocation of joint cost

Reference no: EM133092652

Reference no: EM133092652

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