Q3. (a) Cost of production of product X is given below Raw material per unit...
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Q3. (a) Cost of production of product X is given below Raw material per unit Rs90/- Wages per unit Rs 80/- Overheads per unit Rs 30/- Total Rs200/- As on the balance sheet date the replacement cost of raw material is Rs.80/- per unit. There were 500 units of raw material on 31-03-21.. Calculate the value of closing stock of raw material along with explanation in the following conditions: a) If the finished product is sold at the rate Rs.210/- per unit, what will be the value of closing stock of raw material b) If the finished product is sold at the rate Rs.190/- per unit, what will be the value of closing stock of raw material (b) A ltd produces chemical X which has the following production cost per unit Raw Material Rs 5, Direct labour Rs 2, Direct expenses Rs 3, Normal capacity 5000 units per annum, Actual production is 4000 units, Fixed overhead Rs 20,000. The company has 2000 units of unsold stock lying with it at the end of the year. You are required to value the closing stock
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