process costing illustrations
TRANSCRIPT
Management Accounting By Paresh ShahOxford University Press
Chapter No. 10Chapter Name Process Costing
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Total Approtioned Joint Cost =Rs.
Apportionment of Joint cost on Sales Value Basis:Product Sales Value Rs. Cost Appropriation Approtioned Joint
Ratio Cost Rs.Milk 1 0
Butter Milk 1 0Butter 1 0
0 0
Comparative Profit and Loss StatementTotal Rs. Milk Rs. Butter Milk Rs. Butter Rs.
Cost upto Separation 0 0 0 0Cost after Separation 0
Works Cost 0 0 0 0Selling Costs 0
Total Cost 0 0 0 0Profit 0 0 0 0Sales 0 0 0 0
Butter Rs.0
0
00 0
(a) Joint Costs Apportionment on Sales Price Basis
Product
A 0 / 0 B 0 / 0 C 0 / 0
0 0
(a) Joint Costs Apportionment on Sales Price Basis
Product
A 0 / B 0 / C 0 /
0 0 0
Selling Price per
unitCost Apportionment
RatioApportioned
Joint Cost
Quantity Sold Units
Selling Price per
unit
Sales Value
Rs.
Cost Apportionment Ratio
Apportioned Joint
Cost
Product Incremental Revenue Rs.
A 0B 0C 0D 0
Particulars
Sales Value Product A 0 0 0 Product B 0 0 0 Product C 0 0 0 Product D 0 0 0
0 0 0
0 0 0
Net Profit 0 0 0
Sales After Further Processing Rs.
Sales at Split off Point Rs.
Incremental Costs Rs.
All products sold at Split off Point Rs.
All products sold after further processing Rs.
A & C further processed and B and D at Split off Rs.
Less: Joint Cost
Less: Further Processing Cost
0 0 0 0
Gain (+) or Loss (-) Rs.
The Estimated Costs of By-Product At Separation PointParticulars Rs. Rs.
Sales ValueLess estimated ProfitEstimated Total Cost 0 0 Less estimated Selling CostEstimated Works Cost 0 0 Less actual cost after separationEstimated cost upto separation 0 0
Comparative Profit and Loss Statement
ParticularsRs.
Total A B1 B2Cost upto Separation 0Cost after Separation 0Works Cost 0 0 0 0Selling Cost 0Total Cost of Sales 0 0 0 0
Profit 0 0 0 0 Sales 0
Apportionment of Total CostsMixing Packing
Manure Total Total Cost / unit Total Total Cost / unit Cost / unit TotalRs.
Points Cost Pts. Cost Points Pts. Pts. Cost/ unit / unit
XYZ
Total 0 0 0 0
0 0 0
Grand Total cost per unit