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OK close the calculation part. Now presentation part looks critical and I hope KPMG will present a good solution.
All the time I have emphasized on what information should be available in a Finished Goods Cost Sheet are:
1. How much material is required to produce the product (with material detail in Quantity and value)-->
2. How many labor hours are required to produce that (with resource consumption detail in hours and value)-->
3. How much overhead is required to manufacture it (with resource consumption detail in hours and value)-->
4. What portion of unit cost (and total cost) is fixed and variable
I think you know very well, what the Management wants.
As you said early, it is not possible to show proportionate Materials Quantity, labor and machine hours from BP (Base Product) which will flow to Finished Goods, I don't know how to resolve! Do you have any other option which will answer to these concerns!Wish a happy and prosperous new year to everyone.
Could you please schedule a discussion to close the open points mentioned by Costing Department. Please have a discussion between Costing Department, KPMG and yourself first.
All the time I have emphasized on what information should be available in a Finished Goods Cost Sheet are:
1. How much material is required to produce the product (with material detail in Quantity and value)-->
2. How many labor hours are required to produce that (with resource consumption detail in hours and value)-->
3. How much overhead is required to manufacture it (with resource consumption detail in hours and value)-->
4. What portion of unit cost (and total cost) is fixed and variable
I think you know very well, what the Management wants.
As you said early, it is not possible to show proportionate Materials Quantity, labor and machine hours from BP (Base Product) which will flow to Finished Goods, I don't know how to resolve! Do you have any other option which will answer to these concerns!Wish a happy and prosperous new year to everyone.
Could you please schedule a discussion to close the open points mentioned by Costing Department. Please have a discussion between Costing Department, KPMG and yourself first.
