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Construct a cost of production report

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Reference no: EM132549204

The following information pertains to the goods in process in Process No. 02 of Shoen Leather Products (SLP) during the month of June, 2018. The firm is engaged in making leather jackets. The overall production activity of SLP is divided in four production processes, and it is considered as production on mass level and goods are manufactured for different clients simultaneously.

Manufacturing Costs incurred in June, 2018 :

Raw materials used 340,000

Direct Labor 275,000

Factory overhead 255,000

Production Report for June, 2018 :

Units

Units received from Process No. 01 50,000

Units completed and transferred to Process No. 03 45,000

Units in process, June 30, 2018 (90% done as to material

And 70% done as to Labor and Factory Overhead) 4,000

Required :

Question (a) make a COST OF PRODUCTION REPORT.

Question (b) The firm cannot follow Job Order costing system to ascertain cost of production. Justify this statement by giving two valid reasons.

Reference no: EM132549204

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