Lecture 3 Flashcards
1
Q
Conversion
A
Direct labour + Manufacturing overhead
2
Q
Cost of production
A
Total cost / Quantity of production
3
Q
Total cost
A
Mat cost in dept + Conversion cost in dept + Value of goods transferred in to dept
4
Q
Quantity of production
A
Units started in Prev and finished in this + Units starts and finished in this period + Units started in this period and not finished.
5
Q
Cost per equivalent unit
A
=Total costs/Equivalent units of production
