Question

Budgeted Information for Moshi Ltd is shown below. The budget was to produce 1,000 units which...

Budgeted Information for Moshi Ltd is shown below.

The budget was to produce 1,000 units which they did.

The company sold 700 units.

£

Direct Materials 7
Indirect Materials (Variable) 2
Direct Labour 8
Indirect Labour (Variable) 5
Other variable Factory Overhead 4
Fixed Factory Overhead 25
Variable Selling Expenses 6
Fixed Selling Expenses 14

There was no opening inventory.

QUESTIONS:

The manufacturing cost per unit using marginal costing is £????

The manufacturing cost per unit using absorption costing is £????

The value of the closing inventory using marginal costing is £????

The value of the closing inventory using absorption costing is £????

The cost of goods manufactured using absorption costing is £????

The cost of goods sold using absorption costing is £????

Show working. Show the equation used.

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