(Answered) A company manufactures a product which involves two

Accounting

A company manufactures a product which involves two processes, namely, pressing and polishing. For the months of January, the following information is available:

Pressing Polishing
Opening Stock
Inputs of unit in process 1200 1000
Units completed 1000 750
Unit under process 200 250
Material Cost Rs.69000 Rs.17500
Conversion Cost 328500 82500

For incomplete unit in process, charge material costs at 100% and conversion costs at 60% in the pressing process and 50 % in the polishing process. Prepare a statement of cost and calculate the selling price per unit which will result in 25 % on the sale price.

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